Overnight:
As of 730 CST,
the market has auctioned lower from Tue Settlement, 108.54s, achieving a Stopping Point, 107.60s.
As noted overnight, the response to the Key Overhead Supply Cluster, 108.50s-110.50s, of focus as sell programs have driven price lower from that area.
Globex Stopping Point Low, 107.63s, of focus into Pit session open.
EIA delayed to Thu.
Our daily statistical study plotting key reference levels/price for 02Sep & projected levels/inferential analysis for 03Sep.
Result?...
Following Mon's holiday shortened electronic session, the market auctioned higher, achieving a Stopping Point, 108.53s, at/near the Avg Daily Range High, where a structural pullback occurred to 107.60s.
Buy programs entered, driving price higher, achieving the daily Stopping Point, 108.83s, at the 1st Std Dev High. The market balanced, 108.85s-108.25s, closing at/near 108.50s.
Knowledge of the market structure (Buying Tail/p shape), the structural/statistical levels, and the frequency of levels' success helped inform our subscribers of the potential for higher prices and the high probability destination levels to best inform trading decisions. In this case, long positions up to either the Avg Daily Range & 1st Std Dev levels and/or short positions from those levels provided asymmetric reward to risk opportunity, in congruence with the market structure.
A holistic view based on the market generated data and probability logic.
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