WTI Crude Daily 08Jul

Wednesday’s Auction
via The Daily

As noted in Tue’s analysis, the focus into Wed’s auction on response to the Key Breakdown Area/Overhead Supply Cluster, 53.43s-52.10s, was key as selling interest emerged there, driving price lower to the Avg Daily Range Low, within the context of Daily Value sideways and no new high in Net Sellside Delta. Focus into Thu’s auction on response to Wed’s Lower Trade Cluster, 50.50s-51.85s.
Wednesday’s Micro-Blog Excerpt

via The Daily

WTI Crude Daily 26Jun

Friday’s Auction

As noted in Thu’s analysis, the focus into Fri’s auction on response to Thu’s NY auction D shape structure, was key as selling interest entered, driving price to Key Structural Support, 58.70s, before short covering into the close within context of daily value overlapping lower. Focus into Mon’s auction on response to Key Overhead Supply Cluster, 59.80s-59.40s.
WTI Gap Lower Opens
Friday’s auction saw a structural Gap Lower open. Based on the market generated data, this market structure implied asymmetric potential for lower prices. The market ultimately saw price discovery lower toward Key Structural Support, 58.70s, before the buying interest shut off the Sellside auction.