WTI 06Mar

Friday's Auction

WTI Daily Auction 06Mar

  • Friday's Auction Saw Globex Balance, 45.65s-46.38s, Below Key Resistance As Buyers Trapped. Price Drift Lower Developed Into The London Auction As The News Of No OPEC Deal Began To Emerge. Buyers Trapped, 44.99s, As A Sellside Breakdown Developed To 43.17s Beyond Friday's 2SD Low Target. Balance Developed, 43.17s-44.32s, As A Gap Lower Open Formed Into The NY Open.
  • Retracement Higher Developed To 44.57s Early In NY Trade Where Sell Excess Emerged Before Buyers Trapped, Confirming The Gap. Rotation To The Low Developed Where Selling Interest Emerged, Driving Price Aggressively Lower To 41.11s As A Sell Spike Developed, 42s-41.11s, Into The NY Close....