Oil's Early Surge

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Hello, my friends!

Today, we switching assets up and took a closer look at a critical development in Crude Oil that unfolded during the New York Futures session.

• This asset class can be lightning fast in its movements. Once a breakout occurs, if you find yourself on the wrong side of the trade, the squeeze can be brutal and immediate.

• Being on the wrong side of such rapid shifts is a harsh reminder of how swiftly momentum can take control, forcing you to adapt or face significant losses.

The price action and market conditions provided an early blueprint, and the result was a swift breakout, highlighting the importance of paying attention to technical levels and gamma exposure.

Today's lesson couldn’t be clearer: focus on asset classes that align with your strategy and provide clear entry and exit points.

It’s the classic "buy low, sell high" approach—a concept that’s as old as the markets themselves, yet remains one of the most powerful.

Lets get into it!

Early Futures Impulse (2.81%)📈⛽

8:00-9:30 Est

• In the hours leading up to the NY futures open, Crude Oil was hovering near flat in the pre-market, showing little immediate volatility.

• However, there was more brewing beneath the surface than met the eye. The price was setting higher lows since the Friday close—a strong indicator that momentum was quietly building. This was our first clue that something big was about to unfold.

• Meanwhile, the U.S. Dollar Index (DXY) was having a rough morning, gapping down at the Sunday open and remaining weak throughout the session - Down (0.52%)

• With the dollar down, the inverse correlation between oil and the dollar was flashing green for oil bulls. A weaker dollar often supports oil prices, and this time was no exception.

• As the NY Futures opened approached, the calm before the storm was almost palpable.

• Crude Oil began to break out, holding firmly above the $69 mark, a crucial 0DTE (zero days to expiration) level.

• This level acted like a launchpad, signaling strong support for the price. But that was only half the story—Crude Oil was also closing in on Friday’s highs at $70.25.

• This wasn’t just any high; it was aligned with a significant call resistance level, coupled with large gamma volume

  • Large Gamma meaning a high probability of increased volatility on both ends

  • When these technical pivots line up with substantial gamma exposure, the result can be explosive.

  • Gamma, which refers to the sensitivity of options prices to changes in the underlying asset, acts like a fuel that can drive rapid price moves when key levels are breached.

Live News ⚡

• Weak Chinese economic data dampens oil market sentiment.

• China's industrial output growth slows to a five-month low in August.

• Retail sales and new home prices in China continue to weaken.

• China's oil refinery output drops for a fifth month due to low fuel demand.

9:30-10:00 Est

• The stock market open began and Crude has already made its move

• The gamma highs and daily pivot were broken, triggering a wave of selling pressure and increased volatility, which quickly brought the oil impulse to an end

• This impulse is a perfect example of how early signals can lay the foundation for a major move once the NY session begins.

• It was all about reading the pre-market clues—higher lows, a weak dollar, and gamma-loaded technical levels—and being ready when the market opened its hand.

• CLV 68.5 (0DTE Support Gamma)

• CLV 70.25 (0DTE Resistance Gamma)

• CLV 69 (0DTE Positive/Negative Shift)

0DTE Levels: Zones of significant options volume in underlying assets, that can trigger an increase of volatility as the expiration approaches

These market levels are recalculated and updated daily, taking into account factors like gamma expiration, trading volume, and market volatility.

Coverage include Stocks, ETFs, Indices, Futures, and Crypto. For the most up-to-date levels and analysis, all information is available on MenthorQ.

(WTI) Crude Oil Headlines 📰

• Crude oil prices hit a one-week high due to two key factors: a weaker U.S. dollar and disruptions in Libyan crude exports.

• The dollar's decline supported oil prices as a weaker currency makes commodities more attractive globally.

• Simultaneously, the interruption in Libya's crude production added to concerns about supply, further driving prices up.

• Both elements combined to boost crude oil futures in the short term.

  For more details, you can check the full article here.

Closing Mindset 🧠

In trading, it’s easy to assume that more complexity equals greater success.

Many traders fall into the trap of overloading their charts with indicators, chasing after every piece of news, or constantly tweaking their strategy in search of perfection.

Simplicity in execution can often lead to the biggest wins. Remember, the market rewards discipline and patience, not complexity.

Trust your process, stay sharp, and keep things simple—that’s where the real edge lies.

Until next time,
Steve Benyi
Founder, The Daily Impulse

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Important Disclaimer:

This newsletter is for educational purposes only and does not offer financial or investment advice. It should not be taken as a recommendation to trade assets or make any financial decisions. Please be cautious and ensure you conduct thorough research or consult with a financial professional before making any investment choices.