WTI Crude Daily 16Dec

Monday’s Auction 

As noted in Mon’s analysis, focus on response to the unsecured low area, 55s-56s, was key in Tue’s auction as selling interest emerged at/near 55.55s, driving price lower, achieving the Stopping Point Low, 53.60s, near the Daily 1st Std Dev Low. Despite the Gap Lower open, responsive buying interest emerged in aggressive short covering inventory, filling the Gap. A Structural Stopping Point Low, 53.60s, is potentially in place. Focus on response to the low amidst the current Trade Cluster, 53.60s-57.15s, into Wed’s auction.
 
Tuesday’s Micro-Blog Excerpt
Noted here during Tuesday’s auction, that the market had achieved the Daily 1st Std Dev Low and based on current market generated data on a rolling 20day basis, there was an 85% probability that level hold as support, provided buying interest emerged there. Following clearing of Buy Stops below the Globex Low, responsive buy programs were noted, driving price higher toward our upside expectation, 56.40s (Mon’s HVN)/ 57.58s (Tue’s Avg Daily Range High).

 Tuesday’s Auction
via The Daily

WTI Crude Daily 15Dec

Friday’s Auction 
As noted in Fri’s analysis, focus on response to 58.50s-57.40s, was key in Mon’s auction as selling interest entered early in the Globex auction, driving price lower to the Avg Daily Range Low. Responsive buying interest emerged there, developing Balance, 56.25s-58.75s, into the NY auction before selling interest entered at/near 56.35s, driving price toward the Daily 1st Std Dev Low. Focus on response to the unsecured low area, 55s-56s, into Tue’s auction. 
 

Monday’s Micro-Blog Excerpt


Noted here during Monday’s Auction, the initiative sell programs entered into the NY auction within the context of the Globex Upper Cluster, 57.60s-58.70s. Indicated is the implication and expectation of a breach of 57.60s likely resulting in long liquidation along with the expected levels including the Globex Low, 56.25s. The market ultimately traded there and lower into the close.






Monday’s Auction