WTI Crude Daily 25Nov


Monday's Auction 

As noted in Mon's analysis, focus on response to 76s-75.60s was key in Tue's auction as selling interest emerged there, driving price aggressively lower, exacerbated by the OPEC conjecture, toward the Avg Daily Range Low with support undefined. Focus into Wed's auction on response at Key Structural Support, 74.30s-74s. 

Tuesday's Auction 

WTI Crude Daily 24Nov

Friday's Auction

As noted in Fri's analysis, focus on response to Prior Key Resistance/Breakout Point, 76s-76.50s, was key in Mon's auction as two sided responsive trade developed around this area, absorbing the initiative buying and selling interest. Rotation toward the low into the close places the burden of proof on the buyside to defend Key Structural Support and ultimately drive the market higher. Focus on response to 76s-75.60s into Tue's auction.

 Monday's Auction 

Weekend News 23Nov

09-14Nov Auction 

 
As noted in last week's analysis, focus on response to Stopping Point Low, 73.25s, was of focus in this week's auction as buying interest emerged mid-week above there at last week's Buy Program support area, 74s. Focus into next week on response to 76-76.50s for acceptance or negation of buyside breakout and potential price discovery toward the Overhead Supply Cluster, 79.50s-81.60s. 



16-21Nov Auction 

Central Banks

  • China's Surprise Interest Rate Cut. (Reuters) 

Geopolitics

  • Russia Prepared For Catastrophic Decline In Oil Prices, Sayeth Putin. (Business Insider) 
  • Cheap Oil Tilts Geopolitical Power To US. (Bloomberg)

Supply/Demand & Markets 

  • Brent Prices To Stay Below $90 Through 2016 Sayeth Goldman. (Value Walk) 
  • Drop In Oil Price Is Not All Good News For China. (Platts)

WTI Crude Daily 21Nov

Thursday's Auction 

As noted in Thu's analysis, focus on response to Key Structural Resistance (Prior Breakdown Area), 76s-76.50s, was key in Fri's auction as the Globex PBOC narrative drove price higher, achieving the Stopping Point High at the Daily 1st Std Dev High. With the bulk of the buyside auction developing during the Globex, a sellside response developed in the Pit session in spite of the Structural Gap Higher open. Focus on response to Prior Key Resistance/Breakout Point into Mon's auction. 

 Friday's Auction 

WTI Crude Daily 20Nov


Wednesday's Auction 


WTI NY Buying Tails

As noted in Wed's analysis, focus on response to Wed's Buying Tail, 74s-74.50s, was key in Thu's auction as buying interest in the Globex session at Wed's Buying Tail implied the potential for higher prices into the Pit session. This probability path played out as the market auctioned toward 75.90s, near the Avg Daily Range High. Focus on response to Key Structural Resistance (Prior Breakdown Area), 76s-76.50s, into Fri's auction.





Thursday's Auction 

Midweek News 19Nov

 
Tuesday's Auction

As noted in Tue's analysis, focus on response to 74.23s into Wed's auction was key as buying interest emerged there, resulting in a Buying Tail, 74s-74.50s, and Balance above. Focus on response to Wed's Buying Tail into Thu's auction.

Wednesday's Auction 

Central Banks

  • Russia Adds Gold As Sanctions Weaken Ruble. (Bloomberg)
  • German Gold Repatriation From Then NY Fed. (Zerohedge)

Geopolitics

  • West's Mistake May Lead To New Cold War Says Kissinger. (RT)
  • Shifting Borders, Boundaries, & Sovereignty. (IHS)
Source: EIA (Nov 2014)

Supply/Demand & Markets 

WTI Crude Daily 18Nov


 Monday's Auction 

As noted in Mon's analysis, focus on response to Key Resistance Area overhead, 75.90s-76.30s, was key in Tue's auction as buying interest entered within the recent D shape distribution, driving price toward Key Resistance overhead. Selling interest emerged there, resulting in a failed breakout and long liquidation toward 74.25s resulted. Focus on response to 74.23s into Wed's auction following Tue's Dec-Jan contract roll completion.

Tuesday's Auction