WTI 16Jan

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to developing Balance, within context of a potential Stopping Point Low at 52.27s, was key as selling interest drove price lower from Fri Settle, 52.37s, through the Unsecured Low, achieving a Stopping Point Low, 52.12s, in a holiday-shortened Globex auction. Responsive buy programs entered there, closing at 52.64s.

Focus into Tue’s auction on response to the Stopping Point Low Area, 52.12s.

Week In Review 15Jan

WTI 13Jan

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to developing Balance, 52.70s-53.50s, within context of a potential Stopping Point High at 53.50s, was key as selling interest emerged near Thu Settle, driving price lower, achieving the Globex Stopping Point Low, 52.30s, where responsive buying interest emerged, driving price higher, developing Balance, 52.30s-52.80s, into the NY open. Buying interest emerged at 52.70s, driving price higher in short covering inventory adjustment toward 53s, near Thu Settle. Responsive sell programs entered, driving price lower, challenging the Globex Low in stop clearing liquidity operation to 52.27s, where responsive buy programs entered, developing Balance into mid-auction, closing at 52.37s.

Focus into Mon’s auction on response to developing Balance, within context of a potential Stopping Point Low at 52.27s.

WTI 12Jan

Thursday’s Auction

As noted in Wed’s analysis, the focus into Thu’s auction on response to the prior Sellside Breakdown Area within Key Overhead Supply Cluster, 52s-53s, was key as balance developed during Globex around Wed Settle before buying interest emerged at 52.40s, driving price higher, achieving the Globex SPH, 53.25s, as the market opened Gap Higher. Buying interest emerged early at 53.05s, confirming the Gap, driving price higher to 53.50s at the Avg Daily Range High Expectation. Responsive selling interest emerged, driving price lower to 52.80s in long liquidation to the VWAP. Responsive buying interest emerged there, as Balance developed into mid-auction, 52.70s-53.30s, closing at 53.01s.

Focus into Fri’s auction on response to developing Balance, 52.70s-53.50s, within context of a potential Stopping Point High at 53.50s.

WTI 11Jan

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Sell Spike, 51.30s-50.80s, was key as Globex balance trade developed within Tue Sell Spike, 51.33s-50.90s, into the NY auction. Buying interest entered early in the NY auction, driving price modestly higher in range extension to 51.54s ahead of the EIA. Responsive sell programs entered there, before selling interest emerged post EIA at 51.30s, driving price lower to 50.75s, challenging the Key Stopping Point Low. Responsive buy programs entered, driving price back through the Range before initiative buy programs entered at 51.50s, driving price higher in Buyside continuation, driving price higher to 52.78s near the Daily 1st Std Dev High, where responsive selling interest emerged, closing at 52.25s.

Focus into Thu’s auction on response to the prior Sellside Breakdown Area within Key Overhead Supply Cluster, 52s-53s.