As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s developing Upper Cluster, 49.45s-49.05s, was key as Globex selling interest drove price lower to 48.05s at the Avg Daily Range Low Expectation near Key Structural Support where buying interest emerged, driving price higher into 49.60s (49.93s Jul contract) as Key Structural Resistance was tested amidst Jun-Jul contract roll, closing at 49.35s (49.66s Jul contract).
Focus into Fri’s auction on response to Key Structural Resistance, 49.70s-49.90s in the Jul contract.
WTI Daily 17May17
The Focus Into Thu 18May Centered Upon Response To Wed's Unsecured High, 49.50s.
WTI Daily 18May17
Thu's Auction Saw Globex Selling Interest To Key Structural Support Where Buying Interest Emerged, Driving Price Higher, Challenging Key Structural Resistance Amidst The Jun-Jul Contract Roll.
As noted in Tue’s analysis, the focus into Wed’s auction on Tue’s Unsecured High was key as Globex buying interest emerged, driving price higher forming a Gap Higher open, 51.72s. Minor range extension higher developed early NY, achieving the Stopping Point High, 51.88s, near our Avg Daily Range High expectation into the EIA release. Selling interest emerged post-EIA, driving price lower, filling the Gap, as long liquidation developed to 50.86s where buying interest and a Buying Tail, 50.85s-51s, closing at 50.15s.
Focus into Thu’s auction on Key Structural Support, 50.80s, within the context of a potential Stopping Point High development at 51.88s.
WTI Daily 04Apr17
The Focus Into Wed's Auction Centered Upon Response To Tue's Unsecured High, 51.16s.
WTI Daily 05Apr17
Wed's Auction Saw Globex Buying Interest Through Tue's Unsecured High, Forming A Gap Higher Open. Price Discovery Higher Continued Early NY To 51.88s Near Avg Daily Range High Where Selling Interest Emerged And Long Liquidation Developed To 50.86s.
As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Key Structural Support, 50.53s, was key as buying interest emerged there, driving price aggressively higher during Globex to 51.50s into the London auction as the market formed a Gap Higher open implying asymmetric potential for higher prices. Buying interest entered post EIA data, 51.47s-51.55s, driving price higher in Buyside continuation through Key Structural Resistance, 51.80s, achieving the Stopping Point High, 51.93s, near the Daily 1st Std Dev High. Responsive sell programs entered, developing Balance, into mid-auction, closing at 51.60s, amidst the Nov-Dec contract roll.
Focus into Thu’s auction on response to the Buyside Breakout Area, 51.80s-51.50s.
WTI Daily 18Oct16
The Focus Into Wed 19Oct Centered Upon Response To Either Edge Of The Maturing D Shape Distribution, 50.53s/49.76s.
WTI Daily 19Oct16
Wed's Auction Saw Buying Interest During Globex Drive Price Through Tue's High Forming A Gap Higher Open. The Gap Held Early In The NY Auction Before Buying Interest Emerged Post-EIA, Driving Price Higher To 51.93s Near Our Daily 1st Std Dev High Expectation In A Buyside Directional Breakout Attempt Above Key Resistance, 51.80s.
As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Low, 49.40s, was key as Globex selling interest drove price modestly lower to 49.15s where buying interest emerged, driving price higher to Fri’s High. Initiative buy programs entered, 50.70s-50.80s, driving price higher in a Buyside Directional Breakout to 51.60s at the Daily 1st Std Dev High, closing at 51.35s.
Focus into Tue’s auction on response to the Buyside Breakout Area, 50.70s-50.80s, within context of a Buyside Directional Attempt.
WTI Daily 07Oct16
The Focus Into Mon 10Oct Centered Upon Response To Fri's Key Structural Support, 49.40s.
WTI Daily 10Oct16
Mon's Auction Saw Minor Range Extension Lower Through Fri's Low In Stop Clearing Where Buying Interest Emerged, Driving Price To Fri's High. Initiative Buy Programs Entered, 50.70s-50.80s, Driving Price Higher To 51.60s At Our Avg Daily Range High Expectation.