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

WTI Crude Daily 12Dec

Thursday’s Auction

As noted in Thu’s analysis, focus on response to the unsecured low area, 58.80s-60s, was key in Fri’s auction as selling interest drove price lower from there. Globex balance ultimately gave way to a Sell Spike, 59.10s-58.40s, resulting in price discovery lower toward the Daily 2nd Std Dev Low. Focus on response to 58.50s-57.40s, into Mon’s auction. 
Friday’s Micro-Blog Excerpt 
Noted here during Friday’s auction was the auction to the Globex Low, looking for the initiative sellside there. The sellside appeared driving price lower, forming a Structural Sell Spike, 59.10s-58.40s, implying the potential for price discovery lower. Noted are the key reference levels based on our database. Ultimately, the market auctioned lower toward the Daily 2nd Std Dev Low before the halting of the sellside auction occurred. 

Friday’s Auction