Overnight:
As of 730 CST,
the market has auctioned above Mon Settlement, 94.05s, filling in yesterday's late session Structural Selling Tail, 94.50s-94.20s, probing the high, clearing overhead stops.
The market auction to a higher high during the Globex session is consistent with the likely outcome following a p shape Pit structure.
Focus on response to either edge of Globex balance, 94.20s-94.70s, into Pit session.
Our daily statistical levels study plotting key reference levels/price for 22Nov & projected levels/inferential analysis for 25Nov.
Result?...
Following Fri's sellside auction, price discovery lower continued during Mon's Globex session into the Pit session open where sell programs drove price aggressively lower, achieving the Stopping Point Low, 93.08s, at/near the Daily 1st Std Dev Low.
Buy programs entered there, forming a Structural Buying Tail, driving price through range, closing at/near 94.05s.
Knowledge of the Structural development of the Low over recent weeks, the Statistical Levels, and the frequency of those levels holding as support/resistance informed our subscribers of the potential asymmetric opportunity on the buyside at/near the low, in congruence with the market structure. This insight came in direct opposition to the media price propaganda chorus of the P5+1-Iran deal's "bearish" effect on global oil markets.
Holistic analysis based on the market generated data and probability logic.
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