WTI Crude: Next Week’s Levels, Now. 26Jul

Our weekly TPO Profile graphics for 19Jul.
Plotted: Structural Support (blue), Resistance (red), and Points of Control (green).

The graphs show the monthly timeframe development (left)
of Jun’s buyside directional phase, followed by Jul’s first 
half Structural breakout and buyside directional phase, 99s-107.40s.

Last week’s range extension higher & Stopping Point/Selling Tail (right)
illustrate the potential shift in the phase of market development to Balance.
Our weekly statistical study plotting key reference levels/weekly close for 19Jul, projected levels /inferential analysis for 26Jul, and weekly range frequency table. 

    The market balanced early week, 107.80s-108.50s, around last week’s Settlement, 107.90s, at/near the Major Structural Stopping Point, 108.90s, before encountering a Sell Response, which began the sellside directional phase. 

    Price discovery lower continued into early Thu, achieving the Stopping Point, 104.10s, at/near the Major Structural Demand, as inferred. The market failed to encounter any initiated selling there to drive the market lower, as the market balanced, 104.10s-105.80s, before probing the low to 103.90s in Friday’s session, closing the week at/near, 104.70s.

    Ultimately, last week’s Stopping Point & Selling Tail implied the potential for Balance and possibly a sellside directional phase into this week. This is what transpired as the market auctioned toward the Major Structural Support and this week’s minimum rotational expectation, 104.50s. 

    These studies helped to inform our subscribers of the structural significance of the 108.90 Stopping Point & Selling Tail as well as the statistical expectations in the event of either upside continuation or downside liquidation. Finally, these expectations are framed within the context of the statistical likelhood of each reference level functioning as support or resistance. This data provides quantifiable destinations in congruence with the market structure. 

    Holistic analysis based on the market generated data and probability logic. 

    For additional information & a 1 week free trial, 
    please visit our subscription page