WTI 22Jun

Thursday’s Auction

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s SPL, 42.05s, did not come into play as Globex Balance developed around Wed Settle as Buying interest emerged, 42.35s, driving price higher toward 43s into the NY open. Initiative buying developed at 43s, driving price higher to 43.32s near Composite POC into mid-auction where selling interest emerged before closing at, 42.74s.

Focus into Fri’s auction on response to Key Demand Cluster, 42s-42.80s, within the context of Balance development.

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WTI 21Jun

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Stopping Point Low, 42.94s, was key as  Globex selling interest drove price to 43.03s near Tue’s Key Support, where buying emerged, driving price higher through the EIA release to 44.20s, the Sellside Breakdown Area. Self-similar responsive selling emerged, driving price lower through the Globex range to challenge Tue’s Stopping Point Low, where initiative selling emerged, driving price lower in Sellside continuation, achieving the Stopping Point Low, 42.05s, at our Daily 1st Std Dev Low, where responsive buying emerged, driving price higher, closing at 42.53s.

Focus into Thu’s auction on response to Wed’s SPL, 42.05s.

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WTI 20Jun

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 44.32s, was key as Globex selling interest drove price through Mon’s Unsecured Low in Sellside continuation, developing a Gap Lower open, 43.34s, near our Avg Daily Range Low Expectation. Selling interest emerged early in NY, confirming the Gap, driving price modestly lower, achieving the Stopping Point Low, 42.94s, at the 1st Std Dev Low Expectation. Responsive buying interest emerged there, driving price higher in short covering inventory adjustment, closing at 43.51s.

Focus into Wed’s auction on response to Tue’s Stopping Point Low, 42.94s.

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WTI 19Jun

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Key Structural Support, 44.46s, did not come into play until late in the auction as Globex buying interest drove price modestly higher from Fri Settle to 45.28s near Key Structural Resistance. Self-similar responsive selling interest emerged there in NY, driving price lower in Long Liquidation to 44.32s near Fri’s Key Support/Buyside Breakout Area, closing at 44.43s, an Unsecured Low.

Focus into Tue’s auction on response to Mon’s Unsecured Low, 44.32s.

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Week In Review 18Jun

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