WTI Crude Daily 02Feb

Friday’s Auction 
via The Daily

As noted in Fri’s analysis, focus on response to Fri’s upper trade cluster, 48.50s-47.25s, in context of undefined resistance was key in Mon’s auction as early Globex selling interest elicited buying interest on the pullback, ultimately driving price higher toward the Avg Daily Range High expectation. Focus into Tue’s auction on response to Mon’s Globex Selling Tail, 50s-50.50s. 

Monday’s Micro-Blog Excerpt
via The Daily

Noted here is the significance of the response at/near Key Structural Support (Fri’s High)  following Mon’s Globex pullback into the NY auction. Buying interest emerged at/near Fri’s High, resulting in price discovery higher toward our Daily 1st Std Dev High expectation, 50.56s.

Monday’s Auction
via The Daily

WTI Crude Daily 28Jan

Tuesday’s Auction

As noted in Tue’s analysis, focus on response to 45.90s-45.60s, (Breakout Area/Prior Resistance) was key in Wed’s auction as negation of the buyside auction developed and price discovery back toward the Major Structural Stopping Point Low developed. Focus on Wed’s Sell Spike into Thu’s auction.

 

Wednesday’s Micro-Blog Excerpt
via The Daily 

Noted here is the initiative sell program activity (ISP) at/near 45.55s driving price lower into Wed’s Globex Buying Tail. The failure of the Buying Tail and subsequent unsecured low implied the potential for price discovery lower. Ultimately, this probability path unfolded toward our Avg Daily Range expectation.

Wednesday’s Auction
via The Daily