The market
balanced early in the week above last week's Settlement, 102.66s, before
initiative buy programs entered at/near 102.90s, driving price achieving a
Stopping Point, 105.05s, into Tue Pit session open, at/near Major Structural
Resistance. Responsive sell programs entered into mid-week, developing Balance,
104s-104.80s, as the market priced in the Wed EIA data.
Initiative buy programs entered into Thu's London
session at/near 104.60s, as the Iraq geopolitical narrative served as catalyst
for a buyside structural breakout and price discovery phase higher. The
market achieved a Stopping Point High,
107.68s into Fri's session, at/near the Weekly 2nd Std Dev High, coinciding
with the Sep 2013 POC. Responsive sell programs entered, developing Balance,
107.70s-106.35s, closing the week at/near 106.71s.
Graphics
Expected Non-OPEC Production Growth Reduces Call On OPEC Crude To Balance Market. (EIA)
- Macro Musings. (Market Anthropology)
Central Banks
- Straight From The Horses' Mouths: Fedspeak. (WSJ)
- Cluster Of Central Banks Have Invested $29tril in Markets. (Zerohedge)
Geopolitics
- China & Japan's Game Of Chicken In East China Sea. (Diplomat)
- Ukraine's New President. (Zerohedge)
- US Preparing For Direct Dialogue WIth Iran Over ISIS In Iraq. (RT)
Supply/Demand & Markets
- Gazprom Puts Ukraine On Repayment Plan After Chronic Failure To Pay Debt. (RT)