WTI Crude Daily 25Feb

Tuesday’s Auction 
via The Daily 

As noted in Tue’s analysis, focus on response to Tue’s Sell Spike, 49.80s-49.20s, was key Wed’s auction as Globex selling interest drove price lower from the Spike, ultimately encountering a Structural Buying Tail, 48.40s-48.90s, on “bearish” EIA data, resulting in price discovery higher toward the 5DVWAP where buying interest emerged driving price higher toward 51.10s.  Focus on response to Wed’s Buy Spike, 50s-51.10s, into Thu’s auction.


Wednesday’s Micro-Blog Excerpt 
Noted here (highlighted in yellow):
  • Development of the Low via Structural Buying Tail, 48.40s-48.80s. 
  • The Buying Tail holding as support, implying the potential for price discovery higher.
  • Initiative Buy Programs (IBP) at/near 49.80s and the expectation for price discovery higher.
  • Key Upside Reference Levels (the market traded toward the 5DVWAP ahead of the NY close)


Wednesday’s Auction