As noted in Thu’s analysis, the focus into Fri’s auction on response to Key Structural Resistance, 49.70s-49.90s, was key as Globex buying interest drove price higher in a Buyside Breakout to 50.43s as the market opened Gap Higher, 50.35s, near the Avg Daily Range High Expectation. Buying interest re-emerged early in NY at 50.45s, confirming the Gap, driving price higher to 50.80s near the Daily 1st Std Dev High, closing at 50.67s.
Focus into Mon’s auction on response to Fri’s Unsecured High, 50.80s.
WTI Daily 18May17The Focus Into Fri 19May Centered Upon Response To Thu's Unsecured High, 49.60s, Near Key Structural Resistance.
WTI Daily 19May17Fri's Auction Saw Globex Buying Interest Drive Price Higher Through Key Structural Resistance In A Buyside Breakout As A Gap Higher Open Developed, 50.35s, Near Our Avg Daily Range High Expectation. Buying Interest Emerged, Confirming The Gap, Before Buying Interest Drove Price Higher To 50.80s Near Our Daily 1st Std Dev High Expectation.
As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s developing Upper Cluster, 49.45s-49.05s, was key as Globex selling interest drove price lower to 48.05s at the Avg Daily Range Low Expectation near Key Structural Support where buying interest emerged, driving price higher into 49.60s (49.93s Jul contract) as Key Structural Resistance was tested amidst Jun-Jul contract roll, closing at 49.35s (49.66s Jul contract).
Focus into Fri’s auction on response to Key Structural Resistance, 49.70s-49.90s in the Jul contract.
WTI Daily 17May17The Focus Into Thu 18May Centered Upon Response To Wed's Unsecured High, 49.50s.
WTI Daily 18May17Thu's Auction Saw Globex Selling Interest To Key Structural Support Where Buying Interest Emerged, Driving Price Higher, Challenging Key Structural Resistance Amidst The Jun-Jul Contract Roll.
As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Unsecured Low, 48.50s, was key as early Globex selling interest drove price through Tue’s Low to 48.03s near Key Support where buying interest emerged, driving price higher to 49s into the NY open. Balance developed ahead of the EIA data where a shakeout of weak long inventory developed to 48.50s post-EIA where buying interest emerged, driving price higher, achieving the Stopping Point High, 49.50s. Selling interest emerged there, developing Balance, 49.45s-49.05s, through mid-auction, closing at 49.07s.
Focus into Thu’s auction on response to Wed’s developing Upper Cluster, 49.45s-49.05s.
WTI Daily 16May17The Focus Into Wed 17May Centered Upon Response To Tue's Unsecured Low, 48.50s.
WTI Daily 17May17Wed's Auction Saw Early Globex Selling Interest Through Tue's Unsecured Low To 48.03s Near Key Structural Support. Buying Interest Emerged There, Driving Price Higher To 49.50s Near Our Avg Daily Range High Expectation At Key Structural Resistance.
As noted in Mon’s analysis, the focus into Tue’s auction on Mon’s Upper Cluster, 49.40s-49.85s, was key as selling interest emerged near 49.10s, driving price lower in a Sellside Breakdown achieving the Stopping Point, 48.61s, at Mon’s Key Buy Program Support. Responsive buy programs entered there, developing Balance, 48.60s-49s, into mid-auction, before selling interest drove price lower to 48.50s, closing at 48.66s.
Focus into Wed’s auction on response to Tue’s Unsecured Low, 48.50s.
WTI Daily 15May17The Focus Into Tue 16May Centered Upon Response To Key Resistance, 49.66s.
WTI Daily 16May17Tue's Auction Saw Selling Interest Near 49.38s, Forming A Lower High Before Selling Interest Emerged Near 49.10s, Driving Price Lower In A Sellside Breakdown Developing An Unsecured Low, 48.50s.