As noted in Wed’s analysis, focus on response to the undefined resistance at/near 48.50s was key in Thu’s auction as price discovery higher occurred as buying interest ultimately drove price toward the Daily 1st Std Dev High Area. Selling interest emerged as the buyside breakout failed, resulting in rotation back through the range toward the Key Demand Cluster, 45.50s-46.50s. Focus into Fri’s auction on response to Demand Cluster, 45.50s-46.50s as Feb-Mar contract roll is completed.
Thursday’s Micro-Blog Excerpt
Noted here into the NY open is the potential for the development of the Selling Tail, 51.20s-50.30s, implying an asymmetric potential for lower prices in the NY auction based on the market generated data in our Structural Signal Database.
WTI London Selling Tails
Asymmetric potential for lower prices into the NY auction, based on the market generated data. This probability path did unfold in Thu’s auction toward the Avg Daily Range Low.
As noted in Tue’s analysis, focus on response to Tue’s Upper Balance, 46.20s-45.10s, was key in Wed’s auction as two sided trade developed there through the “bearish” EIA data narrative before initiative buy programs entered late in the NY auction driving price higher out of Balance toward the Daily 1st Std Dev High. Focus on response to undefined resistance at/near 48.50s into Thu’s auction.
Wednesday’s Micro-Blog Excerpt
Noted here is the buying interest that emerged off Wed’s NY open followed by initiative buying programs (IBP) at/near 46s, creating the expectation for price discovery higher toward the reference levels listed. The market ultimately traded to 48.55s, near our Daily 1st Std Dev High expectation.