WTI 23Feb

Thursday’s Auction

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Stopping Point Low, 53.35s, was key as buying interest emerged in early Globex, driving price aggressively higher to 54.74s, near our Daily 1st Std Dev High Expectation into the NY open as a Gap Higher developed. Initiative buying interest emerged at 54.75s, driving price modestly higher to 54.89s, where selling interest emerged, developing Balance, 54.90s-54.55s, into the EIA release. Initiative buy programs entered post-EIA at 54.83s, driving price higher in range extension to 54.94s, near our Daily 2nd Std Dev High Expectation. Selling interest emerged there, driving price aggressively lower as the Buyside Breakout failed. The market achieved a Stopping Point, 54.19s, into mid -auction, where buying interest emerged, developing Balance, 54.20s-54.50s, closing at 54.45s.

Focus into Fri’s auction on response to Thu’s Key Demand Cluster, 54.20s-54.50s.

WTI 21Feb

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Structural Resistance, 54.10s-54.24s, was key as Globex buying interest drove price higher in a Buyside Breakout to 54.85s near the Avg Daily Range High into the NY open as the market opened Gap Higher. Buying interest emerged early in the NY, confirming the Gap, driving price higher in Buyside continuation to 55.03s at the Daily 1st Std Dev High. Selling interest emerged there, driving price lower to 54.25s, closing at 54.33s.

Focus into Wed’s auction on response to Buyside Breakout Area, 54.10s-54.30s.

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 10Feb

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to Thu’s Upper Cluster, 53.15s-52.75s, was key as Globex buying interest drove price higher, achieving a Stopping Point, 53.90s, near our Avg Daily Range High Expectation forming a Gap Higher open into the NY auction. Minor retracement developed early in NY to 53.70s, failing to fill the Gap before buying interest re-emerged, driving price higher in range extension, achieving the Stopping Point High, 54.13s, near our Daily 1st Std Dev High Expectation. Responsive sell programs entered developing Balance, 54.10s-53.75s, through mid-auction, closing at 53.86s.

Focus into Mon’s auction on response to Fri’s Upper Cluster, 53.75s-54.10s, within Major Structural Resistance.

WTI 09Feb

Thursday’s Auction

As noted in Wed’s analysis, the focus into Thu’s auction on response to Key Support, 52.20s, was key as early Globex retracement to there elicited buying interest, driving price higher to 53.03s forming a Gap Higher Open, 52.84s, into the NY auction. Two-sided trade developed early in NY before initiative buy programs entered at 52.95s, driving price higher, achieving the Stopping Point High, 53.21s, within 07Feb Key Supply Cluster. Responsive sell programs entered there, developing Balance, 53.15s-52.75s, through mid-auction closing at 52.34s.

Focus into Fri’s auction on response to Thu’s Upper Cluster, 53.15s-52.75s, within context of a potential Stopping Point High, 53.21s.