Overnight:
As of 730 CST,
the market has auctioned below Wed Settlement, 93.90s, trading toward Wed's Key Breakout Level, 93.50s, which has failed to hold as support.
Wed's auction saw re-emergence of sell programs at/near the prior Key Structural Level/POC & Tue's Breakdown Area, 94.50s. Focus on response to potential restest of Major Structural Support, 93s, into Pit session.
EIA & Yellen Senate Committee Hearing pending....
Our daily statistical levels study plotting key reference levels/price for 12Nov & projected levels/inferential analysis for 13Nov.
Result?....
Following Tue's Structural Breakdown/Long Liquidation toward Major Structural Support, 93s, buy programs drove the market higher Wed, achieving the Stopping Point High, 94.54s, at/near the Avg Daily Range High, as inferred by Tue's statistical & inferential analysis.
Knowledge of the Structural Significance of 93s and the implications of either buyside or sellside failure at that level informed our subscribers of potential destinations in congruence with the market structure. In this case, long positions toward Statistical Resistance Expectations (94.43s) offered asymmetrical opportunity upon buyside defense of 93s, Major Structural Support.
Holistic analysis based on the market generated data and probability logic.
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