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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WTI Crude Daily 11Dec

Wednesday’s Auction 
As noted in Wed’s analysis, focus on response to 60.40-61s, was key in Thu’s auction as selling interest drove price lower, achieving a Stopping Point, 60.10s, during Pit session hours before selling off toward 58.80s. Focus on response to the unsecure low area, 58.80s-60s, into Fri’s auction. 

Thursday’s Micro-Blog Excerpt
via The Daily

Noted here during Thu’s auction was the shakedown of the weak Globex long inventory, the failure of the initiative sellside to defend low which resulted in the formation of a Buying Tail, 60.10s-60.45s. As noted, this formation implied the potential for price discovery higher and expectation levels provided, 68.10s/61.40s were both achieved before the Stopping Point High, 61.50s. Finally, noted was the implication of the failure of the Buying Tail for price discovery lower, which ultimately unfolded toward the Daily 1st Std Dev Low, 58.83s.  
Thursday’s Auction