Monday's Auction
As noted in Mon's analysis, focus
on response to Low Usage Resistance, 94.80s-96.80s, overhead in Tue's auction
was key as selling interest emerged there, resulting in aggressive long
liquidation through the larger Balance, 90.50s-95s. Following Tue's +2Std Dev
sellside NY auction, focus on response to 91s-90.50s into Wed's auction as
asymmetric potential for lower prices is present into the London auction based
on the market generated data. US EIA Wed.
Tuesday's Auction
