WTI 16Feb

Thursday’s Auction

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Demand Cluster, 52.80s-53s, was key as Globex buying interest emerged there amidst the Mar-Apr contract roll liquidity vacuum, driving price higher toward 53.96s, at our Avg Daily Range High Expectation as the market opened Gap Higher. Buying interest emerged early in NY at 52.85s, driving price higher, achieving the Stopping Point High, 54.06s, in a stop clearing liquidity operation. Selling interest emerged, driving price lower, filling the Gap as long liquidation unfolded, achieving the Stopping Point Low, 53.12s, within Wed’s Demand Cluster. Buying interest emerged, developing Balance into mid-auction, 53.15s-53.40s, before buying interest, emerged at 53.30s, driving price higher in rotational trade to 53.75s, closing at 53.75s.

Focus into Fri’s auction on response to Thu’s Key Demand Cluster, 53.80s-54s.

WTI 15Feb

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to developing Balance, 53.70s-52.80s, was key as Globex buying interest emerged at 52.90s, driving price higher through the EIA release, achieving the Stopping Point High, 53.51s. Selling interest emerged there, rejecting the high, as long liquidation developed into mid-auction back into Key Demand Cluster, 52.80s-53s, closing at 53.11s.

Focus into Thu’s auction on response to Key Demand Cluster, 52.80s-53s.

WTI 14Feb

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 52.77s/Demand Cluster, 52.80s-53s, was key as Globex buying interest emerged there, driving price higher into London achieving a Stopping Point, 53.44s. Buying interest emerged at 53.45s, driving price higher in early NY, achieving the Stopping Point High, 53.72s, where selling interest emerged, driving price lower to 53s as Balance development unfolded, 52.77s-53.72s, closing at 53.20s.

Focus into Wed’s auction on response to developing Balance, 53.70s-52.80s.

WTI 13Feb

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Upper Cluster, 53.75s-54.10s, was key as selling interest drove price lower to 52.77s at the Daily 1st Std Dev Low Expectation, closing at 52.93s.

Focus into Tue’s auction on response to Mon’s Unsecured Low, 52.77s/Demand Cluster, 52.80s-53s.

Week In Review 12Feb