WTI 16Mar

Monday's Auction

WTI Daily Auction 16Mar

  • Monday's Auction Saw Selling Interest Near Key Resistance, 33.87s, Following Friday's Post-NY Close Rally There. Aggressive Price Discovery Lower To 29.75s Ensued Near Sharedata's ADR Low Target As The Fed's Emergency Rate Cut Measures Failed To Prop Up Markets. Buy Excess Developed As Buying Interest Emerged There As Balance Ensued, 29.75s-31.58s, Into The London Auction. A Sellside Breakdown Developed As Buyers Trapped, 29.41s/28.96s, Ahead Of The NY Open.
  • Price Discovery Lower Developed Early In The NY Auction, Achieving The Stopping Point Low, 28.10s, Near Sharedata's 2SD Low Target. Buy Excess Developed, 28.10s-28.45s, Halting The Sellside Sequence. Price Discovery Higher Developed To 30.42s Before Buyers Trapped Near The Sellside Breakdown Area, Driving Price Lower To 28.46s Into The NY Close....