via The Daily
As noted in Fri's analysis, the focus into Mon's auction on response to Fri's late auction Buying Tail, 47.70s-47.90s, was key as selling interest drove price lower through Fri's Buying Tail, achieving the Stopping Point, 47.20s, before selling pressure continued following the Globex reopen. Focus into Tue's auction on response to Mon's Unsecured Low, 46.90s.
WTI Gap Lower Opensvia The Daily
Monday'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 46.90s in poorly facilitated summer trade.