WTI Crude Daily 26Jan

Friday’s Auction 

As noted in Fri’s analysis, focus on response to 44.50s-45.50s, was key in Mon’s auction as early Globex selling toward the Major Structural Support encountered buying interest, driving price toward 46.40s. Focus on response to the Demand Cluster, 45s-44.50s into Tue’s auction.

Monday’s Micro Blog Excerpt I 

Noted here was the formation of the Structural Buying Tail during the Globex session following the auction/probe of the Major Structural Stopping Point Low, 44.60s, from 13Jan. Additionally, following the formation of the Buying Tail, the Globex session became D shaped, implying the potential for directional activity. Initiative Buy Programs (IBP) entered at/near 45s, driving price higher toward 45.80s, one of the initial upside targets provided.


Monday’s Micro-Blog Excerpt II 

Noted here was the development of Balance at/near 45.80s, the initial upside reference before more Initiative Buy Programs (IBP) entered at/near 45.85s, driving price higher achieving a buyside order flow momentum extreme at/near 46.10s. As noted, price extremes usually follow momentum extremes and this probability path did in fact play out into the NY auction up to 46.40s.

Monday’s Auction 

WTI Crude Daily 02Jan

Wednesday’s Auction
via The Daily
As noted in Wed’s analysis, focus on response to the Breakdown Area/Prior Support, 54s-54.30s, was key in Fri’s auction as initial price discovery higher toward the Avg Daily Range High/Key Structural Resistance resulted in selling interest that drove price to new lows in minor range extension. Focus into Mon’s auction on response to 52s-52.50s.

Friday’s Auction