Friday's Auction
via The Daily
As noted in Thu's analysis, the focus
into Fri's auction on response to Thu's NY auction D shape structure, was key
as selling interest entered, driving price to Key Structural Support, 58.70s,
before short covering into the close within context of daily value overlapping
lower. Focus into Mon's auction on response to Key Overhead Supply Cluster,
59.80s-59.40s.
WTI Gap Lower Opens
via The Daily
Friday's auction saw a structural Gap Lower open. Based on the market generated data, this market structure implied asymmetric potential for lower prices. The market ultimately saw price discovery lower toward Key Structural Support, 58.70s, before the buying interest shut off the Sellside auction.