WTI 08May

Wednesday’s Auction

WTI Daily Auction 08May
Focus Into Thu On Response To Wed’s Key Supply, 62.20s-62.35s.

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  • Wednesday’s Auction Saw Globex Selling Interest To 61.07s At Key Support, Where Buying Interest Emerged, Driving Price Higher Through The EIA Release (-3.9mil v +1.2mil exp) To 62.37s Near Wed’s ADR High Target.
  • Multi-Day Consolidation Is Upon The Market Following The Stopping Point Low, 60.04s. The Current Near-Term Signal (Sells-Side 25Apr @65.58s) Is Now +8.46% To The Current Low. Balance Development And Subsequent Breakout Higher From There Will Likely Signal End Of The Current Near-Term Bias.
  • Focus Into Thu On Response To Wed’s Key Supply, 62.20s-62.35s.
  • IF 62.37s Fail As Resistance 63.15s/63.50s.
  • IF 62.37s Hold As Resistance: 61.09s/60.74s.
  • London ADR: .79
  • NY ADR: 1.03
WTI Daily Dashboard 08May

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