WTI Crude Daily 29Jun

Monday's Auction
via The Daily

As noted in Fri's analysis, the focus into Mon's auction on response to Key Overhead Supply Cluster, 59.80s-59.40s, was key as selling interest emerged early in the Asia auction, ultimately driving price lower toward the Avg Daily Range Low within the context of Daily Value Lower and an Unsecured Low. Focus into Tue's auction on response to Key Breakdown Area/Prior Support, 58.70s, for confirmation/negation of Mon's Sellside Directional Attempt.

Weekend News 28Jun


21-26Jun Auction

Central Banks
Wed's Sellside Auction On "Bullish" EIA Data

Geopolitics

Source: EIA (Jun 2015)

Supply/Demand & Markets  

  •  EIA: -4.9mil v -1.8mil exp. (EIA)

WTI Crude Daily 26Jun

Friday's Auction

As noted in Thu's analysis, the focus into Fri's auction on response to Thu's NY auction D shape structure, was key as selling interest entered, driving price to Key Structural Support, 58.70s, before short covering into the close within context of daily value overlapping lower. Focus into Mon's auction on response to Key Overhead Supply Cluster, 59.80s-59.40s.

WTI Gap Lower Opens
Friday's auction saw a structural Gap Lower open. Based on the market generated data, this market structure implied asymmetric potential for lower prices. The market ultimately saw price discovery lower toward Key Structural Support, 58.70s, before the buying interest shut off the Sellside auction.