WTI 24Apr

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Stopping Point Low, 49.20s, was key as selling interest emerged during the NY auction as minor Sellside continuation developed to 49.03s near Key Structural Support. Self-similar responsive buying interest emerged, developing Balance, 49.05s-49.50s, closing at 49.23s.

Focus into Tue’s auction on response to Balance, 49.05s-49.50s, within the context of a potential Stopping Point Low, 49.03s.

Week In Review 23Apr

WTI 21Apr

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to Thu’s Low, 50.58s, was key as narrow balance developed forming a d-shape cluster before selling interest emerged, driving price lower out of Balance in Sellside directional activity to 49.20s near the Daily 1st Std Dev Low Expectation, closing at 49.62s.

Focus into Mon’s auction on response to Fri’s Stopping Point Low, 49.20s.

WTI 20Apr

Thursday’s Auction

As noted in Thu’s auction on response to Wed’s Stopping Point Low, 50.51s., was key as buying interest emerged there, driving price higher in short covering inventory adjustment to 51.38s where selling interest emerged, closing at 50.71s.

Focus into Fri’s auction on to Thu’s Low, 50.58s.

WTI 19Apr

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to Structural Resistance, 52.85s, was key as a false Buyside Breakout developed above there to 53.08s into the EIA data where selling interest emerged, driving price aggressively lower in a Sellside Breakdown beyond the maximum daily expectancy to 50.51s where responsive buying interest emerged, closing at 50.85s, amidst May-Jun contract roll.

Focus into Thu’s auction on response to Wed’s Stopping Point Low, 50.51s.