WTI 26Apr

Thursday’s Auction
  • Globex Buying Interest To 68.78s, Selling Interest There, Gap Higher Open.
  • Sellside Continuation Early NY, Gap Fill, Rotation Lower To 67.71s, Buying Interest There.
  • Focus Into Fri’s Auction On Response To Key Resistance, 68.25s.
As noted in Wed’s analysis, the focus into Thu’s Auction On Response To Wed’s Resistance, 68.18s, was key as Globex Buying Interest drove price higher through 68.18s to 68.78s, shy of the Daily Min Target. Responsive selling entered ahead of the NY Open as the mkt opened Gap Higher amidst a pullback. Selling interest continued early NY, filling the Gap, achieving a Stopping Point, 67.89s. Buying interest emerged there, developing Balance, 67.89s-68.37s, before initiative selling entered, 67.90s, driving price lower in a Sellside Breakdown Attempt to 67.71s where buying interest emerged, rejecting the Low, rotation to 68.25s, closing at 68.19s.
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WTI 25Apr

Wednesday’s Auction
  • Globex Failed Probe Lower Of Key Support To 67.33s, Buying Interest & Balance Into EIA.
  • Selling interest Post-EIA & False Breakdown To 67.11s, Buying Interest There & Balance Development, 67.11s-68.18s.
  • Focus Into Thu’s Auction On Response To Key Resistance, 68.18s.
As noted in Tue’s analysis, the focus into Wed’s Auction On Response To Tue’s Support, 67.54s, was key a minor failed probe lower to 67.33s developed in Globex before buying interest emerged there, developing Balance, 67.33s-67.99s, into the EIA . Selling interest emerged post-EIA, 67.85s, driving price lower in retest of the Globex Low where initiative selling entered, in another failed probe lower to 67.11s, within Key Demand where buying interest emerged, driving higher back into prior Balance, closing at 68.05s.
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