Tuesday's Auction
As noted in Tue's analysis, focus on
response to the Balance, 62.25s-64.20s, was key in Wed's auction as selling
interest emerged there, forming a Sell Spike, 62.80s-62.25s, into the Pit
session open, implying potential for price discovery lower. The market
auctioned lower, exacerbated by the bearish EIA data, achieving a Stopping
Point, 60.43s. Focus on response to 60.40-61s, into Thu's auction.
Wednesday's Micro-Blog Excerpt
via The Daily
Noted here during Wed's auction, the development of the Structural Sell Spike, 62.80s-62.25s, and the implication for price discovery lower. The market ultimately traded toward, 60.43s.
via The Daily
Noted here during Wed's auction, the development of the Structural Sell Spike, 62.80s-62.25s, and the implication for price discovery lower. The market ultimately traded toward, 60.43s.
Wednesday's Auction
via The Daily
Central Banks
- Dollar Surge Threatens Global Debt Edifice Warns BIS. (Ambrose Evans-Pritchard via Telegraph)
Geopolitics
- "Data Is The New Oil": EU Declares War On Silicon Valley. (Telegraph)
- Iran Faces Budget Shortfall Amid Oil Price Decline. (Bloomberg)
Supply/Demand & Markets
- EIA: +1.5mil v -2.6mil exp. (EIA)
- Why Oil Companies Should Be More Profitable Than They Are. (Reuters)
- Watching For A Drilling Slowdown In North Dakota. (John Kemp via Reuters)