WTI 19Mar

Monday’s Auction
  • Globex Balance Below Fri Settle, 62s-62.44s.
  • Sellside Breakdown To 61.45s, Buying Interest & Retracement To 62.37s.
  • Focus Into Tue’s Auction On Response To Key Supply, 62.15s-62.40s.
As noted in Fri’s analysis, the focus into Mon’s Auction On Response To Fri’s Trade Cluster, 62.33s-62.43s, was key as Globex balance developed just below this area before initiative selling entered in NY, 62.20s, driving price lower out of Balance, achieving the Stopping Point Low, 61.45s, where responsive buy programs entered driving price higher to 62.37s, closing at 62.13s.

WTI 16Mar

Friday’s Auction
  • Globex Balance Above Thu Settle, London p Shape Structure Develops.
  • Buyside Breakout Ahead Of London Close, Price Discovery To 62.49s, At Fri’s ADR High Target.
  • Focus Into Mon’s Auction On Response To Key Cluster, 62.33s-62.43s.
As noted in Thu’s analysis, the focus into Fri’s Auction On Response To Supply, 61.20s-61.30s, was key as Globex balance developed above Thu Settle as a p shape structure developed in London. Initiative buying entered ahead of London Close, driving price higher in a Buyside Breakout, achieving the Stopping Point High, 62.49s, at Fri’s ADR High Target, closing at 62.41s.