WTI Crude: Daily Structure & Price. 21Aug

Wednesday’s Auction
 
As noted in Wed’s analysis, focus on potential for Balance Development into Thu’s auction was consistent with the outcome and the phase of market development. The Key Structural Level, 93.50s, held as resistance during the Globex session before buying interest ultimately drove price above it toward 94.50s, as the larger Balance area developed. Focus on response to the Breakout Point/Prior Resistance, 93.60s, into Fri’s auction.
Thursday’s Auction