Our weekly TPO profile graphics for 09Aug.
Plotted: Structural Support (blue), Resistance (red), and Points of Control (green).
The graphs show the monthly timeframe development (left)
of Jul's buyside directional phase, 96s-108.90s, & upper Balance,
followed by Aug's Balance, 108.90s-102.70s.
Last week's auction (right) reflected rotation within the
larger Balance Phase in development.
Our weekly statistical study plotting key reference levels/weekly close for 09Aug, projected levels/inferential analysis for 16Aug, and weekly range frequency table.
Result?...
The market balanced early week, 105.20s-106.40s, around last week's Settlement, 106s, in continued low volatility trade. The market continued narrow rotational trade into midweek.
A Structural Buying Tail, 105.60s-106.05s, confirmed in the Wed session, driving price higher, achieving the Stopping Point, 108.20s, within the Major Overhead Supply Cluster, 107.10s-108.20s. The market balanced, 106.50s-107.50s, into week's end with Sep-Oct contract roll underway, closing at/near 107.30s.
Ultimately, this week's auction saw a preponderance of two-sided rotational trade as the market ground its way higher into Major Overhead Supply, continuing the development within the larger timeframe Balance, 102.70s-108.90s.
These studies helped inform our subscribers of the ongoing structural phase of development (Balance) coupled with the evidence of weekly range compression (approx $3 v Avg Wkly Range $5.15), allowing alignment of appropriate strategy with the key Structural Levels, providing quantifiable destinations in congruence with the market structure.
Holistic analysis based on the market generated data and probability logic.
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