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 Daily 03Feb16
WTI Daily 04Feb16
WTI Daily 03Feb16The Focus Into Thu 04Feb Centered Upon Response To The Stopping Point High, 32.30s.
WTI Daily 04Feb16Following Globex Retracement, Buying Interest Emerged, Driving Price Higher Toward The Avg Daily Range High Within Key Supply Cluster Overhead. Selling Interest Emerged There In A Self-Similar Response, Driving Price Lower.