WTI Crude Daily 21Nov

Wednesday's Auction 

As noted in Thu's analysis, focus on response to Key Structural Resistance (Prior Breakdown Area), 76s-76.50s, was key in Fri's auction as the Globex PBOC narrative drove price higher, achieving the Stopping Point High at the Daily 1st Std Dev High. With the bulk of the buyside auction developing during the Globex, a sellside response developed in the Pit session in spite of the Structural Gap Higher open. Focus on response to Prior Key Resistance/Breakout Point into Mon's auction. 

 Thursday's Auction 

WTI Crude Daily 20Nov


Wednesday's Auction 


WTI NY Buying Tails

As noted in Wed's analysis, focus on response to Wed's Buying Tail, 74s-74.50s, was key in Thu's auction as buying interest in the Globex session at Wed's Buying Tail implied the potential for higher prices into the Pit session. This probability path played out as the market auctioned toward 75.90s, near the Avg Daily Range High. Focus on response to Key Structural Resistance (Prior Breakdown Area), 76s-76.50s, into Fri's auction.





Thursday's Auction 

Midweek News 19Nov

 
Tuesday's Auction

As noted in Tue's analysis, focus on response to 74.23s into Wed's auction was key as buying interest emerged there, resulting in a Buying Tail, 74s-74.50s, and Balance above. Focus on response to Wed's Buying Tail into Thu's auction.

Wednesday's Auction 

Central Banks

  • Russia Adds Gold As Sanctions Weaken Ruble. (Bloomberg)
  • German Gold Repatriation From Then NY Fed. (Zerohedge)

Geopolitics

  • West's Mistake May Lead To New Cold War Says Kissinger. (RT)
  • Shifting Borders, Boundaries, & Sovereignty. (IHS)
Source: EIA (Nov 2014)

Supply/Demand & Markets 

WTI Crude Daily 18Nov


 Monday's Auction 

As noted in Mon's analysis, focus on response to Key Resistance Area overhead, 75.90s-76.30s, was key in Tue's auction as buying interest entered within the recent D shape distribution, driving price toward Key Resistance overhead. Selling interest emerged there, resulting in a failed breakout and long liquidation toward 74.25s resulted. Focus on response to 74.23s into Wed's auction following Tue's Dec-Jan contract roll completion.

Tuesday's Auction 

WTI Crude Daily 17Nov


Friday's Auction 

As noted in Fri's analysis, focus on response to Key Structural Breakdown Area, 75.90s-76.30s, was key in Mon's auction as selling interest emerged there driving price lower toward Fri's Buy Program Support at/near 74.80s. Buying interest emerged there, driving price higher back toward Key Resistance/Prior Breakdown Area. Focus on response to Key Resistance Area overhead, 75.90s-76.30s, into Tue's auction.

Monday's Auction 

Weekend News 16Nov


02-07Nov Auction 


As noted in last week's analysis, focus on response to Stopping Point Low, 75.85s, was key in this week's auction as  sellside continuation developed toward 73.25s. Focus on response to Stopping Point Low, 73.25s, into next week's auction.  





09-14Nov Auction 

Central Banks

  • Regulators Fine Global Banks $3.4bil In Forex Probe. (Reuters)

Geopolitics

  • New US Senate Energy Head Will Need Time To Lift Export Ban. (Reuters)

Supply/Demand & Markets

  • A WTI Drop To $60 Would Trigger Broader HY Market Default, Sayeth Deutsche Bank. (Zerohedge)

WTI Crude Daily 14Nov

Thursday's Auction 

As noted in Thu's analysis, focus on response to the undefined Support Area, 74s, within the Jun-Jul 2012 Demand Cluster was key in Fri's auction as selling interest drove price lower toward 73.20s before buying interest emerged driving price aggressively higher toward 76.30s in short covering inventory adjustment ahead of the week's end. Focus on response to Key Structural Breakdown Area, 75.90s-76.30s into Mon's auction for confirmation or negation of this week's Structural Breakdown.

Friday's Auction