WTI 10Mar

Friday’s Auction

As noted in Thu’s analysis, the focus  into Fri’s auction on response to Thu’s Stopping Point Low, 48.59s, came into focus only later in the NY auction as Globex buying interest drove price higher from Thu Settle into London developing Balance, 49.80s-49.30s, into the NY open. Initiative buy programs entered at 49.55s, driving price higher in a Buyside Breakout. Price discovery higher developed to 50.11s where responsive selling interest emerged, rejecting the Higher, driving price back into prior Balance signaling a structural failure of the Buyside Breakout (potential for price discovery lower). Price discovery lower did develop toward the Globex Low, 49.32s, where initiative sell programs entered at 49.35s, driving price lower in a Sellside Breakdown. Price discovery lower developed through mid-auction, achieving the Stopping Point Low, 48.31s, near our Avg Daily Range Low Expectation. Responsive buying interest emerged there, developing Balance, 48.30s-48.90s, re-testing the Low into the close, settling at 48.49s.

Focus into Mon’s auction on response to Fri’s Unsecured Low, 48.31s.

WTI 13Feb

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Upper Cluster, 53.75s-54.10s, was key as selling interest drove price lower to 52.77s at the Daily 1st Std Dev Low Expectation, closing at 52.93s.

Focus into Tue’s auction on response to Mon’s Unsecured Low, 52.77s/Demand Cluster, 52.80s-53s.

WTI 06Feb

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on development of Balance, 53.40s-54.20s, was key as early Globex buying interest drove price higher from Fri Settle to 54.13s, within Key Supply, where Selling interest emerged, driving price lower into the NY auction, achieving the Stopping Point Low, 53.14s. Responsive buy programs entered, developing Balance, 53.15s-53.50s, before selling interest emerged late in NY auction, driving price lower to 52.91s, closing at 53.01s.

Focus into Tue’s auction on response to Mon’s Stopping Point Low within the context of  a potential completion of a 3 Wave Corrective Phase from 54.35s.

WTI 27Sep

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Upper Cluster, 45.80s-46.20s, was key as selling interest emerged there, driving price lower, achieving a Stopping Point, 44.60s, near the Avg Daily Range Low Expectation into the NY open. Balance development occurred there before selling interest emerged, at 44.55s, driving price lower in price discovery to 44.19s near the Daily 1st Std Dev Low Expectation. Responsive buy programs entered, balance developed, 44.20s-44.50s, into mid-auction before responsive buying interest emerged at 44.30s, driving price higher in short covering inventory adjustment to 45s, closing at 44.67s.

Focus into Wed’s auction on response to Tue’s Unsecured Low, 44.19s.

WTI 10Feb

Wednesday’s Auction
via The Daily

As noted in Tue’s analysis, the focus Wed’s auction on response to the Sellside Breakdown/Prior Support, 29s, for confirmation/negation of the Sellside directional attempt. Despite “bullish” EIA data, selling interest emerged near 29s, driving price lower in continued Sellside price discovery. Focus into Thu’s auction on response to Wed’s Stopping Point Low near Major Structural Support, 27.50s.

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