WTI 03May

Wednesday’s Auction

As noted in Tue’s analysis, the focus into Wed’s auction on response to the Sellside Breakdown Area/Prior Key Structural Support Area, 48.40s-48.20s, was key as Globex buying interest emerged, driving price higher to 48.23s where self-similar selling interest emerged, confirming the Tue’s Sellside Breakdown. Price discovery lower developed through the EIA data release, achieving the Stopping Point Low, 47.30s, as Tue’s Low was challenged. Self-similar responsive buying interest emerged there, forming a Buying Tail as Balance developed into mid-auction, closing at 47.82s.

Focus into Thu’s auction on response to Key Structural Resistance, 48.20s.

WTI 27Jan

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to developing Cluster, 53.70s-54s, within Major Structural Resistance Area, was key as selling interest emerged there, driving price lower, achieving the Stopping Point Low, 52.58s, near the Avg Daily Range Low. Buying interest emerged there, forming a  Buying Tail, 52.60s-52.80s, closing at 53.17s.

Focus into Mon’s auction on response to Fri’s Buying Tail, 52.60s-52.80s.