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Market Analysis - 06.16.2020

We provide key support and resistance levels for the following futures products daily:

Crude Oil (/CL)

S&P 500 (/ES)

NASDAQ (/NQ)

Natural Gas (/NG)

Euro (/6E)

British Pound (/6B)

CRUDE OIL


Key Support Levels:

36.35

37.07

37.88

38 - GEX

38.45


Key Resistance Levels:

38.83

40 - GEX

41.05


Auction Profile:

Range bound


/CL futures are trading far above the previous value area after price rose sharply overnight. Upside risk is elevate today.

S&P 500


Key Support Levels:

3037

3051.25

3060 - GEX

3075

3090.50

3129.50


Key Resistance Levels:

3140 - GEX

3152

3190

3214.75


Auction Profile:

Up auction


/ES futures are trading far above the previous value area after strong support around 3090 overnight. The Fed announcement that it would buy corporate bonds had a strong effect on the confidence of traders. Expect this impact to continue to push prices higher today.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.636


Key Resistance Levels:

1.674

1.725

1.75

1.819

1.84

1.85 - GEX


Auction Profile:

Down auction