Oil & Gas Daily 23Jul

Thursday's Crude Auction

WTI Daily Auction 23Jul


  • Thu's Auction Saw Balance Just Below Key Resistance During Asia Trade. A Buyside Breakout Attempt Developed Early In London Trade To 42.36s. Buyers Trapped Amidst Sell Excess, Halting The Rally. A Selloff Ensued As The Breakout Failed Driving Price Lower To 41.41s As A Sell Spike Formed, 41.70s-41.41s, Into The NY Open. 
  • The Spike Low Held As Support As Buying Interest Emerged Early In NY Trade Driving Price Higher To 42.08s. Buyers Trapped There Near Key Resistance Before Selling Interest Emerged, Driving Price Aggressively Lower To 40.8s Near Thu's ADR Low Target As A Sell Spike Developed, 41.50s-40.83s, Into The NY Close....