WTI 08Nov

Friday's Auction

WTI Daily Auction 08Nov

  • Friday's Auction Saw Globex Selling Interest Through Key Support To 56.07s Near Fri's ADR Low Target As A Gap Lower Open Developed.
  • As Noted In The Market Profile Dashboard, In The Event Of A Gap Lower Open, There Is An Asymmetric Potential For Lower Prices Based On The Market Generated Data.
  • Friday's Auction Saw Minor Sellside Continuation Early In NY To 55.76s Near Fri's 1SD Low Target Where Buy Excess Halted The Sellside Sequence. Aggressive Short Covering Inventory Adjustment Ensued, Filling And Negating The Gap, Driving Price Higher To 57.37s Ahead Of The NY Close.
  • Market Structure & Order Flow Informed As The Failure And Rejection Of The Gap Unfolded....

WTI 05Nov

Tuesday's Auction

WTI Daily Auction 05Nov

  • Tuesday's Auction Saw A Failed Minor Sellside Breakdown Of Key Support Early In Globex To 56.30s. Price Discovery Higher Ensued To 57.12s In The London Auction Forming p-Shape Structure (Implying Potential Price Discovery Higher).
  • Price Discovery Higher Continued In The NY Auction To 57.50s, Probing Monday's Resistance. Sell Excess Developed There, Driving Price Lower Before Narrow Balance Developed, 57.35s-57.03s, Into The NY Close.