WTI 30Nov

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Buying Tail was key as buying interest emerged from Tue Settle, confirming the Low as aggressive short covering inventory adjustment developed through the Daily Statistical Resistance targets, forming a Gap Higher open. Balance developed early in the NY auction, 49.12s-47.80s, before buying interest emerged, driving price higher through Key Structural Resistance, 49.20s, in a Buyside Directional Breakout Attempt as a Buy Spike formed, 49.15s-49.90s, closing at 49.44s.

Focus into Thu’s auction on response to Wed’s Buy Spike for confirmation/negation of the Buyside Directional Attempt.

WTI 29Nov

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Selling Tail, was key as Globex selling drove price lower, forming a Gap Lower open, 45.38s. Narrow, two-sided trade developed through most of the NY auction before selling interest emerged, driving price lower to 44.82s beyond the Daily 2nd Std Dev Low, forming a Buying Tail, 44.82s-45s, amidst a potential Stopping Point Low development.

Focus into Wed’s auction on response to Tue’s Buying Tail.

WTI 28Nov

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Sell Spike, 46.55s-45.88s, was key
as early Globex selling interest drove price lower, achieving the the Stopping Point Low, 45.12s, Responsive buy programs entered, developing Balance, 45.35s-46.30s before buying interest emerged, driving price aggressively higher to 47.65s, near the Daily 2nd Std Dev High within the Key Overhead Supply Cluster. Self-similar responsive sell programs entered there, forming a Buying Tail, 47.65s-47.45s, closing at 47.08s.

Focus into Tue’s auction on response to Mon’s Selling Tail.

Week In Review 27Nov16

WTI 25Nov

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to Thu’s Sell Spike at Key Structural Support, 47.17s, was key as balance developed, 47.20s-47.65s, within the Sell Spike before selling interest emerged at 47.40s, driving price lower toward the Daily Targets, achieving a Stopping Point, 46.19s, near the Daily 2nd Std Dev Low.  Responsive buy programs entered, developing micro-balance, 46.15s-46.55s, before selling interest emerged, forming a Sell Spike, 46.55s-45.88ss, into the Demand Cluster below, closing at 45.96s.

Focus into Mon’s auction on response to Fri’s Sell Spike.