WTI 16May

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on Mon’s Upper Cluster, 49.40s-49.85s, was key as selling interest emerged near 49.10s, driving price lower in a Sellside Breakdown achieving the Stopping Point, 48.61s, at Mon’s Key Buy Program Support. Responsive buy programs entered there, developing Balance, 48.60s-49s, into mid-auction, before selling interest drove price lower to 48.50s, closing at 48.66s.

Focus into Wed’s auction on response to Tue’s Unsecured Low, 48.50s.

WTI 18Apr

Tuesday’s Auction

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 52.65s, was key as selling interest drove price lower through Mon’s Unsecured Low to 52.10s, closing at 52.41s.

Focus into Wed’s auction on response to Key Structural Resistance, 52.85s.

WTI 17Apr

Monday’s Auction

As noted in Thu’s analysis, the focus into Mon’s auction on response to Thu’s High, 53.39s, was key as selling interest emerged near there, driving price modestly lower in range extension lower to 52.61s, forming an Unsecured Low, 52.61s, closing at 52.65s.

Focus into Tue’s auction on response to Mon’s Unsecured Low, 52.65s.

WTI 03Apr

Monday’s Auction

As noted in Fri’s analysis, the focus into Mon’s auction on response to Fri’s Unsecured Stopping Point High, 50.80s,was key as a minor probe higher during Globex to 50.85s encountered selling interest, developing Balance, 50.85s-50.50s, through London. Selling interest emerged at 50.60s, driving price lower out of Balance, driving price lower to 50.12s, near Composite POC. Buying interest emerged, developing Balance, closing at 50.24s.

Focus into Tue’s auction remains on response to Mon’s Demand Cluster, 50.10s-50.30s, within the context of an Unsecured Low, 50.12s.

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.