The market balanced early in the week around last week's
Settlement, 100.58s, at/near the Mar-Apr Cluster's middle POC, 101.30s. Minor
probe of Support occurred toward
100.30s, encountering responsive buy programs auctioning price higher into
Balance. Initiative buy programs entered
at/near 100.85s, driving price higher out of Balance achieving a Weekly Stopping Point High, 102.20s, at/near
Key Structural Resistance/Low Usage
Overhead. Responsive sell programs entered, achieving a Stopping Point, 100.30s, ahead of
midweek's EIA release.
Despite "bullish" EIA data Wed, initiative
sell programs entered at/near 100.30s, driving price lower, achieving a
Stopping Point, 99.35s. Responsive buy programs entered, developing Balance,
99.30s-99.90s, before initiative sell programs entered at/near 99.55s, driving
price lower, achieving the Weekly
Stopping Point Low, 98.74s, within the Mar-Apr Demand Cluster, 98s-99.50s.
Responsive buy programs entered during Thu's NY session, developing Balance, 98.74s-99.90s,
into Fri's session. Buying interest emerged at/near 99.25s, as the market balanced within the upper half of multi-day Balance,
closing at/near 99.81s.Graphics
- Global IPOs. No Froth Here.... (Value Walk)
- NFP. (Zerohedge)
Central Banks
- BOE Needs To Decide When And How To Remove Stimulus. (Guardian)
- Student Loan Bubble Tied To 10yr Yield. Pretext For Untaper of Taper? (Bloomberg)
Geopolitics
- Glenn Greewald Debates Michael Hayden On State Surveillance. (Munk Debates via RT)
- Canada Learns China Oil Option No Easy Answer For Keystone. (Bloomberg)
- NATO's Cold War Runs Into Trouble In Germany. (Boiling Frogs)
- Geopolitical Shocks From Ukraine. (CSIS)
Supply/Demand & Markets
- Shale Assets Lure Capital. (Bloomberg)