WTI 20May

Friday’s Auction
via The Daily

As noted in Thu’s analysis, the focus into Fri’s auction on response to Key Structural Resistance, 48.73s, as Globex buying interest drove price higher through 48.73s, toward the next Key Structural Resistance Area. Selling Interest emerged there, driving price lower toward 48s. Focus into Mon’s auction on response to 47.95s. 

WTI 19May

Thursday’s Auction
via The Daily

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Low, 48.60s, was key as selling interest emerged, driving price lower from there toward the Avg Daily Range Low near Key Structural Support.  Focus into Fri’s auction on response to Key Structural Resistance, 48.73s. 

WTI 18May

Wednesday’s Auction
via The Daily

As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Selling Tail (Jul Contract 49.30s-49.45s) was key as Globex balance developed before buying interest drove price through Tue’s Stopping Point High in minor range extension higher toward 49.56s before selling interest emerged, driving price lower in long liquidation toward 48.60s. Focus into Thu’s auction on response to 48.60s. 

WTI 17May

Tuesday’s Auction
via The Daily

As noted in Mon’s analysis, the focus into Tue’s auction centered upon response to Mon’s Unsecured High, 47.86s, which resulted in buying interest and price discovery higher toward 48.75s, where a Selling Tail formed. Focus into Wed’s auction on response to Tue’s Selling Tail, 48.75s-48.60s. 

WTI 16May

Monday’s Auction
via The Daily

As noted in Fri’s analysis, the focus into Mon’s auction on response to the developing multi-day Balance, 43s-47s, was key as buying interest emerged near 47s, driving price higher out of Balance toward the Avg Daily Range High. Focus into Tue’s auction centers upon response to Mon’s Unsecured High, 47.86s & any pullback toward the Buyside Breakout Area/Prior Resistance, 47s-47.20s.