The market opened the week balancing, 102.70s-102s, around last week's
Settlement, 102.20s, before initiative buy programs entered near the Key POC,
102.50s, driving price higher, achieving the Weekly Stopping Point High,
103.45s, at/near Major Structural Resistance, early in the week. Responsive
sell programs entered there, driving price lower, achieving the Weekly Stopping
Point Low, 101s, at/near Key Structural Support, where responsive buy programs
entered, driving price higher back toward the Key POC, 102.50s, into midweek.
Both
initiative buyside & sellside trade continued from the Key POC as
responsive buyside & sellside trade occurred at/near the Balance edges,
consistent with development of the Balance phase. The market closed the week
at/near the 102.60s
Graphics
- Bull Markets' Study. (Bespoke)
Central Banks
- Gold Fix Study Shows Signs Of Manipulation. (Bloomberg)
- China's Planned Smash Of Yuan Longs Before Currency Goes Global. (CNBC via China Money Report)
Geopolitics
- Russian Movement In Crimea.(CIG)
- Saudi Threat To Close Qatar Border Has USDollar Implications. (ValueWalk)
Supply/Demand & Markets
- US Winter Roils NatGas Market. (Reuters)
- North Sea Physical Market Dented By West African Imports. (Platts)
- Impact Of Asia On Global Energy Map. (IEA)
- China's Jan Crude Imports From Iran. (Platts)