WTI Crude Daily 30Oct


 Wednesday's Auction

b Shape London Auctions
via Daily Statistical Levels Study


As noted in Wed's analysis, focus on response to Wed's FOMC Buying Tail, 82s- 81.70s, was key in Thu's auction as selling interest drove price below Key Support toward 80.80s and continued to re-emerge there through the Pit auction, developing Balance, 80.80s-81.70s. Focus on response to Stopping Point Low area, 81s-80.80s, into Fri's auction. 






Thursday's Auction 

Midweek News 29Oct

Tuesday's Auction
Gap Higher Opens
via Daily Statistical Levels Study


As noted in Tue's analysis, focus on response to developing POC, 81s, within the Key Trade Cluster, 80.40s-81.70s, was key in Wed's auction as buying interest drove price higher from the POC, 81s, to 82.90s, within the upper quadrant of the longer term Balance, 79s-84s. Focus on response to the FOMC Buying Tail, 82s- 81.70s, into Thu's auction.






Wednesday's Auction 

Central Banks

Geopolitics

  • Sanctions Bind Russia's Energy Elite To Putin. (Reuters)
  • History Of Controls On US Oil Exports. (Reuters)

Supply/Demand & Markets 

  • 2mil v 3.3mil exp. (Platts)

WTI Crude Daily 28Oct

Monday's Auction
As noted in Mon's analysis, focus on response to 81-81.20s, was key in Tue's auction as responsive two-sided trade continued rather than directional trade in the context of the larger Balance development, 79s-83.20s. The 16-28Oct D shape distribution now nears completion, showing a near complete cycle of market activity, thus implying potential for directional activity. Focus on response to developing POC, 81s, within the Key Trade Cluster, 80.40s-81.70s, into Wed's auction. US EIA & FOMC Announce Wed.

Tuesday's Auction 

WTI Crude Daily 27Oct


Friday's Auction

As noted in Fri's analysis, focus on response to 80.35s-80s was key in Mon's auction as selling interest drove price to Key Structural Support, 80s. Selling pressure cleared stops toward 79.40s, near the Avg Daily Range Low before  buying interest emerged, driving price higher within the larger timeframe developing Balance, 80s-83.20s. Focus on response to 81-81.20s, into Tue's auction.

Monday's Auction 

Weekend News 26Oct


12-17Oct Auction

 

As noted in last week's analysis, focus in this week's auction on response to Major Structural Demand, 80s-77s, was key as price discovery lower occurred to test Key Support, 80s, within the framework of development of the larger Balance. Focus on maturation potential of the Balance, 79.30s-83.95s, into next week's auction. 
 19-24Oct Auction

Central Banks

  • Fed's $4 Trillion Holdings To Boost Growth Beyond QE. Back To Bed America.... (Bloomberg)

Geopolitics

  • Putin's Harsh Critique Of Western Policy. (RT)

Supply/Demand & Markets

  • Oil Tankers To China Jump Amid Crude Price Decline. (Bloomberg)

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