Tuesday's Auction
As noted in Tue's analysis, focus on
response to Key Support, 81.60s, was key in Wed's auction as selling interest
drove price below Key Support following the "bearish" EIA data. Focus
on undefined support, 80.40s, and potential to retest Major Structural Stopping
Point Low, 79s, into Thu's auction.
Wednesday's Auction
Central Banks
- Fed Continues To Miss Its Inflation Target. (Bloomberg)
- Banks' Musings On An ECB Corporate Bond Program. (WSJ)
- Political Inflation: US Midterms To Cost Nearly $4Bil Sayeth CRP. (Open Secrets)
Geopolitics
- Libya, Divided. (Economist)
- ISIS Making $800mil/year At Current Rate Of Oil Sales Sayeth IHS. (Bloomberg)
Supply/Demand & Markets
Source: EIA (Oct 2014)
- EIA: +7.1mil v +2.5mil exp. (Platts)
-
Energy Sector Weighting In SP 500 Declines. (Bespoke)
-
Stress Test For Exporters As Oil Price Slides. (The National)
- Activity Impact Of Oil Sell Off Won't Be Immediate. (Joseph Triepke via OilPro)