WTI Crude Daily 13Apr



Friday's Auction

As noted in Fri's analysis, focus in Mon's auction on response to Key Structural Resistance, 51.50s-52s, was key as buying interest emerged there, driving price higher toward 53s before encountering responsive selling and developing value higher. Focus into Tue's auction on response to Key Demand Cluster, 51.50s-52s.  






Monday's Micro-Blog Excerpt

Noted here during Mon's auction
(highlighted in yellow) 

  • Initiative sell programs (ISP) entered early in the NY auction at/near 52.70s-52.60s, implying potential for price discovery lower. 
  • Key Downside Reference Levels including the Globex Buy Program Support at/near 51.60s. 
  • Sellside momentum extreme developed into 51.86s, noting price extremes usually follow momentum extremes. Ultimately, price discovery lower developed to 51.47s, where responsive buy programs entered, shutting off the sellside auction.


Monday's Auction
at
Labels: , ,