WTI Crude Daily 24Oct


 Thursday's Auction

Selling interest developed below Key Structural Resistance early in Fri's auction, driving price lower toward the expected potential support, 81.15s, before encountering buying interest at/near 80.36s, halting the downward auction. Focus on response to 80.35s-80s into Mon's auction.

Friday's Auction

WTI Crude Daily 23Oct


Wednesday's Auction 

As noted in Wed's analysis, focus on undefined support, 80.40s, was key in Thu's auction, price probed the Key Structural Support, encountering buying interest, ultimately driving price higher toward the Avg Daily Range High. Focus on response to 82.40s into Fri's auction.

Thursday's Auction

Midweek News 22Oct

Tuesday's Auction 

As noted in Tue's analysis, focus on response to Key Support, 81.60s, was key in Wed's auction as selling interest drove price below Key Support following the "bearish" EIA data. Focus on undefined support, 80.40s, and potential to retest Major Structural Stopping Point Low, 79s, into Thu's auction. 

Wednesday's Auction
 

Central Banks

  • Fed Continues To Miss Its Inflation Target. (Bloomberg)
  • Banks' Musings On An ECB Corporate Bond Program. (WSJ)
  • Political Inflation: US Midterms To Cost Nearly $4Bil Sayeth CRP. (Open Secrets) 

Geopolitics

  • ISIS Making $800mil/year At Current Rate Of Oil Sales Sayeth IHS. (Bloomberg) 

Supply/Demand & Markets
Source: EIA (Oct 2014)

  • Energy Sector Weighting In SP 500 Declines. (Bespoke)

WTI Crude Daily 21Oct


Monday's Auction 
As noted in Mon's analysis, focus on response to Key Structural Support, 81.75s, in Tue's auction was key as buying interest emerged there during the Globex session, continuing the development of Balance, 81.60s-83.75s. Focus remains on response to Key Support, 81.60s, into Wed's auction. US EIA Wed. 

Tuesday's Auction

WTI Crude Daily 20Oct


Friday's Auction 

As noted in Fri's analysis, focus on response to developing Balance, 83.75s-81.75s (82.50s-84.50s Nov contract), was key in Mon's auction as Nov-Dec contract roll completed. Focus on response to Key Structural Support, 81.75s, into Tue's auction.

 Monday's Auction

Weekend News 19Oct

05-10Oct Auction
As noted in last week's analysis, focus on response to the potential Stopping Point Low, 83.55s, was key in this week's auction as Balance development occurred early week before selling interest drove price lower, achieving a Stopping Point, 80s, near the Weekly 2nd Std Dev Low and Jun 2012 Major Demand Cluster. Focus into next week's auction on response to Major Structural Demand, 80s-77s. 

12-17Oct Auction 

Central Banks

  •  ECB Fears Deflation Whilst The People Fear Inflation. (Zerohedge)

Geopolitics

Supply/Demand & Markets 

  •   EIA:  8.9mil v 2.5mil exp. (Platts)
  • Macro Hedge Funds Go Long USDollar, Short Energy Equities, Sayeth Sterne Agee. (Value Walk)
  • 52 Week Lows In Energy Sector Exceed 42%. (Bespoke)

WTI Crude Daily 17Oct


Thursday's Auction 

As noted in Thu's analysis, focus on response to Thu's Selling Tail, 84.80s-83.25s, was key in Fri's auction as selling interest emerged at/near 84.40s. Focus on response to developing Balance, 82.50s-84.50s, into Mon's auction. 

Friday's Auction