WTI 05Nov

Tuesday's Auction

WTI Daily Auction 05Nov

  • Tuesday's Auction Saw A Failed Minor Sellside Breakdown Of Key Support Early In Globex To 56.30s. Price Discovery Higher Ensued To 57.12s In The London Auction Forming p-Shape Structure (Implying Potential Price Discovery Higher).
  • Price Discovery Higher Continued In The NY Auction To 57.50s, Probing Monday's Resistance. Sell Excess Developed There, Driving Price Lower Before Narrow Balance Developed, 57.35s-57.03s, Into The NY Close.