WTI Crude: Sound & Fury…Signifying An Average Daily Range. 27Aug

Our daily statistical study plotting both price action for 24Aug with key reference levels for 27Aug. Result?? 
The market saw a buyside auction on the Hurricane Isaac narrative during the Globex session toward the Avg Daily Range High, 97.75s, referenced Friday. 
After achieving a stopping point & a balance phase, the market encountered a significant Sell Spike/Liquidation into the Pit session open. The market achieved another stopping point at/near the Avg Daily Range Low, 94.55s, also referenced Friday during the Initial Balance. 
The market again balanced into Midday session, upticking to close off the low. 

Today’s activity is a deviation from recent market behavior (see here)The majority of the 
rotation occurred in London session rather than NY. 

Despite the sound and fury, 
the auction was in totality an Average Daily Range’s expectation.
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