As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Demand Cluster, 52.80s-53s, was key as Globex buying interest emerged there amidst the Mar-Apr contract roll liquidity vacuum, driving price higher toward 53.96s, at our Avg Daily Range High Expectation as the market opened Gap Higher. Buying interest emerged early in NY at 52.85s, driving price higher, achieving the Stopping Point High, 54.06s, in a stop clearing liquidity operation. Selling interest emerged, driving price lower, filling the Gap as long liquidation unfolded, achieving the Stopping Point Low, 53.12s, within Wed’s Demand Cluster. Buying interest emerged, developing Balance into mid-auction, 53.15s-53.40s, before buying interest, emerged at 53.30s, driving price higher in rotational trade to 53.75s, closing at 53.75s.
Focus into Fri’s auction on response to Thu’s Key Demand Cluster, 53.80s-54s.
WTI Daily 07Oct16
The Focus Into Mon 10Oct Centered Upon Response To Fri's Key Structural Support, 49.40s.
WTI Daily 10Oct16
Mon's Auction Saw Minor Range Extension Lower Through Fri's Low In Stop Clearing Where Buying Interest Emerged, Driving Price To Fri's High. Initiative Buy Programs Entered, 50.70s-50.80s, Driving Price Higher To 51.60s At Our Avg Daily Range High Expectation.
As noted in Tue’s analysis, the focus into Wed’s auction on response to developing Balance, 53.70s-52.80s, was key as Globex buying interest emerged at 52.90s, driving price higher through the EIA release, achieving the Stopping Point High, 53.51s. Selling interest emerged there, rejecting the high, as long liquidation developed into mid-auction back into Key Demand Cluster, 52.80s-53s, closing at 53.11s.
Focus into Thu’s auction on response to Key Demand Cluster, 52.80s-53s.
WTI Daily 14Feb17
The Focus Into Wed 15Feb Centered Upon Response To Either Edge Of Balance, 52.86s/53.72s.
WTI Daily 15Feb17
Wed's Auction Saw Selling Interest To Challenge Tue's Low Where Buying Interest Emerged Driving Price Higher To 53.51s Amidst Developing Mar-Apr Contract Roll.
As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 52.77s/Demand Cluster, 52.80s-53s, was key as Globex buying interest emerged there, driving price higher into London achieving a Stopping Point, 53.44s. Buying interest emerged at 53.45s, driving price higher in early NY, achieving the Stopping Point High, 53.72s, where selling interest emerged, driving price lower to 53s as Balance development unfolded, 52.77s-53.72s, closing at 53.20s.
Focus into Wed’s auction on response to developing Balance, 53.70s-52.80s.
WTI Daily 13Feb17
The Focus Into Tue 14Feb Centered Upon Response To Mon's Unsecured Low, 52.77s.
WTI Daily 14Feb17
Tue's Auction Saw Globex Buying Interest Above Mon's Key Support Driving Price Higher To 53.72s Near Our Avg Daily Range High Expectation.
As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Upper Cluster, 53.75s-54.10s, was key as selling interest drove price lower to 52.77s at the Daily 1st Std Dev Low Expectation, closing at 52.93s.
Focus into Tue’s auction on response to Mon’s Unsecured Low, 52.77s/Demand Cluster, 52.80s-53s.
The Focus Into Week 05-10Feb Centered Upon Response To Key Structural Support, 52.24s.
WTI Weekly 10Feb17
This Week's Auction Saw Early Week Selling & Price Discovery Through Key Support, 52.24s. Achieving The Stopping Point Low, 51.2s, Where Buying Interest Emerged, Driving Price Higher To 54.13s Within Major Structural Resistance.
WTI Weekly COT (Managed Money) 07Feb17
The weekly COT report of managed money reflects net long position (+420k) coupled with minor increase in extreme net short position (-60k). Following the Sellside interest near Major Structural Resistance, the MM Long posture remains extreme while Short posture remains at multi-year lows, implying the potential for Sellside Directional activity persists.