The market developed Balance, 99s-100.30s, early in the week around last week's Settlement, 99.45s, before initiative sell programs entered, attempting to drive price lower out of Balance. The market achieved the Weekly Stopping Point Low, 98.80s, Tue as responsive buy programs entered at/near the Key Structural Breakout Level/Prior Resistance, forming a Structural Buying Tail, 98.80s-99s, into the mid-week.
Buying interest emerged into Wed session at/near the Buying Tail, implying the potential for a challenge of Key Structural Resistance, in spite of "bearish" EIA data. Range extension higher developed in Wed session before the Buyside Structural Breakout occurred Thu, driving price higher, achieving the Weekly Stopping Point High, 100.24 into Fri's session. The market closed the week at/near 101.70s.
Graphics
- CCFD's Impact On Physical & Paper Markets. (Goldman via Zerohedge)
- Cushing Inventories Down 32% Last Two Months. (EIA)
Central Banks
- Duration Risk: Why Fed "Tapering" Is A Mirage. (Financial Sense)
- $9000 Gold & The Collapse Of The International Monetary System. (Jim Rickards via Bulliondesk)
Geopolitics
- Rosneft In Discussions With Exxon On Kurdish Blocks. (Bloomberg)
- Crony Capitalism (aka Fascism) & Corporate Welfare. (Liberty Blitzkrieg)
- IMF Financial Occupation Of Ukraine Presses Forward. (IMF)
- Leaks Reveal Turkey Ponders Use Of Al-Qaeda For False Flag. (SyriaNews)
Supply/Demand & Markets
- Commercial Traders Bet On Decline. (Financial Sense)
- The Golden Age Of Gas, Possibly. (IEA via Oil Price)
- CME Sees Push To Into Europe, Asia Energy Markets Gaining Momentum, Sayeth CME. (Platts)
- GDP. (Zerohedge)