As of 730 CST,
the market has balanced around Tue Settlement, 105.11s, within yesterday’s Structural Sell Spike, 104.60s-105.60s.
Response to the Spike range will be of focus into the Pit session open. EIA pending….
Our daily statistical study plotting key reference levels/price for 19Aug & projected levels/ inferential analysis for 20Aug.
As noted, the potential for imbalance existed following the multi-day Balance. A Gap open lower developed as the market broke down first achieving the Stopping Point, 105.28s, at the Avg Daily Range Low.
A large short covering rally occurred back to the breakdown point, 106.80s, before selling off into the close toward 104.50s, the Daily 2nd Std Dev Low.
Knowledge of the market structure (multi day Balance), the statistical levels, and statistical levels’ frequency informed our subscribers of the significance of the Globex breakdown and Gap open lower. Additionally, in the event of a sellside directional auction, the study provided the insight of a high probability of a tradable low occurring at/near the 105.28s, finally indicating the maximum daily rotational expectation at 104.50s.
A holistic view based on the market generated data and probability logic.
For additional information & a 1 week free trial,
As of 730 CST,
following Wed’s Sell Spike, 104.85s-104.15s,
the market balanced within the Spike range before sell programs entered, driving price below the Spike low in a sellside directional attempt.
Focus on confirmation or failure of breakdown below Spike low into Pit session. Spike Rules Apply….