As of 730CST,
Reaction at the 97 area is key.
|Both USD-WTI & Brent-WTI correlations
have normalized in this past week.
|Following a test of last week’s low,
this week’s auction continued the longer term
directional phase higher toward the
weekly 2nd standard deviation high, 98.06s,
(here) achieving a stopping point at/near 98.24s.
The market pulled back from this area in the
The market developed a double
IF 97s hold, probability favors
- Fed Maintains $85bil/mth Asset Purchase Trajectory. (Bloomberg)
- Brazil’s Jekyll/Hyde Monetary Policy. (FT Beyond BRICs)
- Jim Grant Opines On Fed Actions. (Yahoo)
- US May Have Broken Own Sanctions By Buying Iranian Oil. (RT)
Supply/Demand & Markets
- Cline Shale, Permian Basin. (Oil Price)
Outrageous Market Fortune