WTI 27Mar

Tuesday’s Auction
  • Globex Buyside Breakout To 66.41s, Gap Higher Open.
  • Selling Interest Early NY, Gap Fails, Price Discovery Lower To 65.11s, developing an Unsecured Low.
  • Focus Into Wed’s Auction On Response To Tue’s Unsecured Low, 65.11s.
As noted in Mon’s analysis, the focus into Tue’s Auction On Response To Mon’s Demand Cluster, 65.30s-65.50s, was key as Globex buying interest emerged, driving price higher in to 66.41s near Key Supply as a Gap Higher open developed. Responsive selling entered early in NY, driving price lower back into prior Balance as the Gap failed. Price discovery lower developed in NY achieving the Stopping Point Low, 65.11s, near Mon’s SPL where buying interest emerged, developing Balance, 65.08s-65.65s, closing at 65.25s, as an Unsecured Low develops.
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