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Market Analysis - 06.19.2020

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:

37.88

38.45

38.83

39.50 - GEX

40


Key Resistance Levels:

40.44

41 - GEX

43.32


Auction Profile:

Up auction


/CL futures are trading above the previous value area after price was rejected around 40.44 overnight. Upside risk is elevated, yet strong resistance exists around 41.

S&P 500


Key Support Levels:

3051.25

3075

3090.50

3120 - GEX

3129.50


Key Resistance Levels:

3150 - GEX

3190

3214.75


Auction Profile:

Range bound


/ES futures are trading above the previous value area after support came in around 3100 overnight. Upside risk is high today, however, strong resistance at the high call gamma strike will not be easily overcome.

NATURAL GAS


Key Support Levels:

1.50 - GEX

1.60

1.636


Key Resistance Levels:

1.674

1.725

1.75 - GEX

1.80


Auction Profile:

Down auction


/NG futures are trading within the previous value area in a narrow range after being rejected around 1.665 recently. Consolidation will continue until aggressive participants enter the market and push price above 1.674 or below 1.60 strongly.