Tuesday's Auction
As noted in Tue's analysis, focus on
response to Tue's Upper Balance, 46.20s-45.10s, was key in Wed's auction as two
sided trade developed there through the "bearish" EIA data narrative
before initiative buy programs entered late in the NY auction driving price
higher out of Balance toward the Daily 1st Std Dev High. Focus on response to
undefined resistance at/near 48.50s into Thu's auction.
Wednesday's Micro-Blog Excerpt
via The Daily
Noted here is the buying interest that emerged off Wed's NY open followed by initiative buying programs (IBP) at/near 46s, creating the expectation for price discovery higher toward the reference levels listed. The market ultimately traded to 48.55s, near our Daily 1st Std Dev High expectation.
Wednesday's Auction
via The Daily
