The market balanced, 102.95s-103.80s, early in the week around last week's
Settlement, 103.37s, (Apr's POC), before initiative sell programs entered at/near 103.40s, driving price aggressively
lower in Tue session in long liquidation. Price discovery lower continued
achieving a Stopping Point, 101.20s, at/near
Apr Key Structural Support/Low Usage into mid week.
Despite "bearish" EIA data Wed, balance
developed, 101.20s-102.10s, mid-week before initiative buy programs entered Thu
at/near 101.80s, driving price higher into Low Usage/Key Structural Resistance
overhead, achieving a Stopping Point, 102.35s.
Initiative sell programs entered early in Fri' s session at/near
102s, driving price down the range, retesting the Weekly Stopping Point Low,
101.20s. Responsive buy programs entered, developing Balance, 101.20s-101.50s,
during Fri London session before initiative sell programs entered at/near
101.35s, driving price lower as long
liquidation continued. The market achieved a Stopping Point Low, 100.48s,
within Apr's Lower Trade Cluster, developing Balance, 100.45s-101s, closing
at/near 100.58s.
Graphics
- Russian Capital Outflows. (Morgan Stanley via Business Insider)
- Hand Of The Fed. (Market Anthropology)
Central Banks
- Euro Media Banging Drum For ECB QE. (Irish Times)
- SNB Can't Possibly Use Rates To Cool Housing. (Bloomberg)
- 2500Yrs Of Financial Crises: Part I. (FT)
Geopolitics
- Chinese Strategists Reflect On First Sino-Japanese War. (Diplomat)
- Feckless: POTUS Of "The" Superpower Needs World Unity On Russia Sanctions. (AP)
Supply/Demand & Markets
- Big Data & Analytics A Priority In Oil & Gas. (The Oil & Gas Post)
- Adaptive Genius Of Rigged Markets. (Ben Hunt via Financial Sense)
- Goldman Maintains Commodity Trading As Other Squids Exit. (Bloomberg)