OG Daily 05Jan

Wed's Auction Saw Price Discovery Higher Develop To 78.73s Through Daily Key Resistance Amidst The EIA Release (-2.14mil v -3.28mil exp) At Wed's ADR High Target. Sell Excess Formed, Driving Price Lower To 77.59s Amidst The FOMC Minutes Release Into The NY Close....

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Author sdfanalyticsPosted on 05/Jan/202206/Jan/2022Categories Energy DailyTags EIA

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MARKET STRUCTURE EVENT

18Jan– WTI Gap Higher Open.

Tue’s Market Opens Gap Higher Amidst The Feb-Mar Contract Liquidity Roll.

Gap Higher Opens Have Closed Higher 88% (257 of 291 Times) Of Previous Instances Since Q2 2013. The Average Range Amplitude Of Higher NY Auction Closes Is 121 Ticks.

Gap Higher Opens Have Closed Lower 12% (34 of 291 Times) Of Previous Instances Since Q2 2013. The Average Range Amplitude Of Lower NY Auction Closes Is 166 Ticks.

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