The market balanced early week around last week’s Settlement, 100s, within the Upper Cluster, 100s-101s, before initiative buy programs entered at/near 100.55s, driving price higher out of Balance, achieving the Weekly Stopping Point High, 102.65s, following Wed’s neutral EIA data release at/near Key Structural Resistance/High Usage Overhead.
Responsive sell programs entered, developing Balance, 102.66s-101.25s, the remainder of the week, ultimately closing at/near 102.01s.
- Rolling 10yr SP500 Returns. (Bespoke)
- Heating Oil Spread In 7 Day Balance. (JustJoeCharts via CQG)
- Consumer Debt (esp Student Loans) Now A “Signal” For Confidence. (NYT)
- Conduct Of Monetary Policy:
Oystein Olsen, Governor Central Bank Of Norway. (BIS)
- US Energy Boom Will End USDollar World Reserve Status, Sayeth Addison Wiggin. (Daily Reckoning)
- German FM Calls For Cooperation Instead Of Confrontation With Russia. (RT)
- Consistency Of China Foreign Policy. (Diplomat)
Supply/Demand & Markets
- Global Oil Demand. (EIA)