WTI 22May

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Unsecured High, 50.80s, was key as Globex buying interest emerged, driving price higher in Buyside continuation to 51.43s near Key Structural Resistance where selling interest emerged ahead of the NY open. The market opened modestly Gap Higher, 50.91s, as two-sided trade, 50.80s-51.30s, dominated the NY auction, closing at 51.13s.

Focus into Tue’s auction on response to developing Balance, 51.30s-50.75s, within the context of a potential corrective phase developing following the Stopping Point High, 51.43s.

WTI 19May

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to Key Structural Resistance, 49.70s-49.90s, was key as Globex buying interest drove price higher in a Buyside Breakout to 50.43s as the market opened Gap Higher, 50.35s, near the Avg Daily Range High Expectation. Buying interest re-emerged early in NY at 50.45s, confirming the Gap, driving price higher to 50.80s near the Daily 1st Std Dev High, closing at 50.67s.

Focus into Mon’s auction on response to Fri’s Unsecured High, 50.80s.

WTI 15May

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to developing Balance, 47.35s-48.25s, was key as early Globex buying interest emerged, driving price higher in a Buyside Breakout, driving price higher to 49.58s, near our Daily 1st Std Dev High Expectation as the mkt opened Gap Higher, 49.56s. Initiative buying interest emerged at 49.50s, driving price higher in minor range extension amidst stop clearing to 49.66s where responsive selling interest emerged, driving price lower in VWAP retracement to 48.95s, where responsive buying interest halted the long liquidation, before selling interest emerged into the close, settling at 48.85s.

Focus into Tue’s auction on Mon’s Upper Cluster, 49.40s-49.85s, within the context of a potential termination of a 5Wave Buyside auction from 43.70s.

WTI 28Apr

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to the 48.90s-49.10s, this week’s Key Sellside Breakdown Area, was key as Globex buying interest drove price higher through this area, achieving the Globex Stopping Point High, 49.76s, near the Avg Daily Range High Expectation. Responsive sell programs entered there, developing micro-balance, 49.76s-49.50s, into the NY open as the market opened Gap Higher. Selling Interest emerged, driving price lower early, filling the Gap and negating the Gap Higher as price discovery lower developed to 48.80s. Buying interest emerged there as short covering inventory adjustment developed to 49.50s where selling interest emerged, driving price lower to 49s, closing at 49.33s.

Focus into Mon’s auction on response to Fri’s Selling Tail for confirmation/negation of the Lower High.

WTI 05Apr

Wednesday’s Auction

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.