- Globex Buying Interest From Thu Settle, Buyside Breakout & Gap Higher Open Near Our Daily 1st Std Dev High Expectation.
- Responsive Selling Early NY, Balance Development, 57.79s-57s.
- Focus Into Mon’s Auction On Response To 57.79s.
WTI Daily 07Dec17
WTI Daily 08Dec17
WTI Daily 07Dec17The Focus Into Fri's Auction Centered Upon Response To Key Resistance, 56.80s.
WTI Daily 08Dec17Fri's Auction Saw Globex Buying Interest Through Thu's High As A Buyside Breakout Resulted In Price Discovery To 57.79s Near Our Daily 1st Std Dev High Expectation As A Gap Higher Open Developed. Responsive Selling Entered Early In NY, Developing Balance, 57.79s-57s, Into The Close.
As noted in Thu’s analysis, the focus into Fri’s Auction On Response To Thu’s Resistance Area, 56.80s-56.90s, was key as Globex buying interest emerged there, driving price higher, achieving the Globex Stopping Point High, 57.77s, near our Daily 1st Std Dev High Expectation as the mkt opened Gap Higher. A minor stop clearing probe to 57.79s developed early in NY as self-similar responsive selling entered there, driving price lower in retracement, achieving the Stopping Point Low, 56.98s, where responsive buying entered, as two-sided Balance developed, 57s-57.74s, through the remainder of the auction amidst a partial Gap fill, closing at 57.36s.