WTI Crude Daily 10Apr

Thursday’s Auction

As noted in Thu’s analysis, focus into the Fri’s auction on the developing Balance, 52s-50.60s, was key as selling interest drove price below Key Support, 50.60s, in stop clearing. Responsive buy programs entered, absorbing Supply, resulting in buyside rotation back through the multi-day Balance High. Focus into Mon’s auction on response to Key Structural Resistance, 51.50s-52s.   

Friday’s Auction

WTI Crude Daily 27Feb

Thursday’s Auction

via The Daily
 
As noted in Thu’s analysis, focus in Fri’s auction on response to Thu’s Sell Spike was key as buying interest drove price aggressively higher, developing Balance, 49.50s-48.80s, through most of the Globex and NY auctions as end of the month position squaring occurred. Initiative sell programs entered at/near 49.30s, driving price aggressively lower, encountering buying interest, rejecting the low, forming a Structural Buying Tail, 48.45s-48.75s. Focus on response to undefined resistance at/near 50s, into Mon’s auction.

Friday’s Auction