Overnight:
As of 730 CST,
following yesterday's +2 sigma rally, the market has balanced, 107.30s-108.20s,at/near Wed Settlement, 107.28s.
following yesterday's +2 sigma rally, the market has balanced, 107.30s-108.20s,at/near Wed Settlement, 107.28s.
The market is now developing a new upper trade cluster, 107.20s-108.20s, following Wed's directional auction. Focus on response to either edge of Balance into the Pit session.
Our daily statistical study plotting key reference levels/price for 17Sep & projected levels /inferential analysis for 18Sep.
Result?...
The market balanced, 104.50s-105.80s, before buy programs drove price higher both on EIA narrative, continuing on the Fed's No Taper narrative. The market achieved the Pit range Stopping Point, 107.47s, near the Daily 2nd Std Dev High, 107.13s.
Knowledge of the statistical levels helped inform our subscribers of the potential destinations for the auction in the event the Fed had or had not tapered to best inform trading decisions.
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