WTI 04Feb

Thursday’s Auction
via The Daily

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Unsecured High, 32.80s-32.90s, was key as price discovery higher unfolded above Wed’s High toward 33.60s near the Avg Daily Range High. Selling interest emerged , driving price lower toward Key Demand Cluster near 31.50s. Focus into Fri’s auction on response to developing Cluster, 31.50s-32.50s, within the context of corrective phase off the Stopping Point High.

 

WTI 03Feb

Wednesday’s Auction
via The Daily

As noted in Tue’s analysis, the focus into Wed’s auction on response to Tue’s Stopping Point Low, 29.80s, was key as minor price discovery lower developed to 29.40s resulting in buying interest emerging, driving price higher despite “bearish” EIA data toward the Daily 2nd Std Dev High. Focus into Thu’s auction on response to Wed’s Unsecured High, 32.80s-32.90s.

WTI 02Feb

Tuesday’s Auction
via The Daily

As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Stopping Point Low, 31.29s, was key as selling interest drove price lower through Mon’s Unsecured Low to 29.81s near the Daily 1st Std Dev Low. Focus into Wed’s auction on response to Tue’s Stopping Point Low, 29.80s, and Buying Tail, 29.80s-30s.

WTI 01Feb

Monday’s Auction
via The Daily

As noted in Fri’s analysis, the focus into  Mon’s auction on response to maturing D shape distribution, 34.40s-32.65s, for potential directional activity., was key as selling interest emerged in the Upper Cluster, driving price  through Key Structural Support, 32.90s, toward the Daily 1st Std Dev Low. Focus into Tue’s auction on response to Mon’s Unsecured Stopping Point Low, 31.29s.

 

Week In Review 31Jan

 

Central Banks

Geopolitics

  • Are Russia & OPEC Forging An Unholy Alliance To Boost Oil Prices? Not Likely. (Vice News)

Supply/Demand & Markets