WTI 08Dec

Friday’s Auction
  • Globex Buying Interest From Thu Settle, Buyside Breakout & Gap Higher Open Near Our Daily 1st Std Dev High Expectation.
  • Responsive Selling Early NY, Balance Development, 57.79s-57s.
  • Focus Into Mon’s Auction On Response To 57.79s.

As noted in Thu’s analysis, the focus into Fri’s Auction On Response To Thu’s Resistance Area, 56.80s-56.90s, was key as Globex buying interest emerged there, driving price higher, achieving the Globex Stopping Point High, 57.77s, near our Daily 1st Std Dev High Expectation as the mkt opened Gap Higher. A minor stop clearing probe to 57.79s developed early in NY as self-similar responsive selling entered there, driving price lower in retracement, achieving the Stopping Point Low, 56.98s, where responsive buying entered, as two-sided Balance developed, 57s-57.74s, through the remainder of the auction amidst a partial Gap fill, closing at 57.36s.

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WTI 07Dec

Thursday’s Auction
  • Globex Buying Interest From Avg Weekly Range Low Expectation, London p shape cluster develops.
  • Buyside Continuation During NY To 56.78s Near Our Avg Daily Range High Expectation.
  • Focus Into Fri’s Auction On Response To Key Resistance Area, 56.80s-56.90s.

As noted in Wed’s analysis, the focus into Thu’s Auction On Response To Key Support, 55.90s, was key as a stop clearing probe of Key Support developed to 55.82s where responsive buy programs entered, near our Avg Weekly Range Low Expectation, driving price higher as a p shape structure developed into the London auction developing an Unsecured Globex High, 56.30s. Narrow, two-sided trade developed early NY at the Globex High, before initiative buying entered, 56.30s, driving price higher in Buyside continuation, achieving the Stopping Point High, 56.78s, near our Avg Daily Range High Expectation, closing at 56.69s.

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