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 Daily 15May17The Focus Into Tue 16May Centered Upon Response To Key Resistance, 49.66s.
WTI Daily 16May17Tue's Auction Saw Selling Interest Near 49.38s, Forming A Lower High Before Selling Interest Emerged Near 49.10s, Driving Price Lower In A Sellside Breakdown Developing An Unsecured Low, 48.50s.