As noted in Fri’s analysis, response to 97s in Mon’s auction was key as buying interest continued to emerge around the 5day Balance POC, 97.50s. Focus on response to Mon’s NY Buying Tail, 97.80s-97.45s, into Tue’s auction.
As noted in Mon’s analysis, the expectation for balance development was of focus into Tue’s session as selling interest emerged at Low Usage Resistance overhead. Focus on response to Major Structural Support/Balance Low Area, 97s-97.30s, into Wed’s auction.
As noted to subscribers overnight, the Tue’s Buying Tail, 97s-97.30s, holding as support implied a London session average upside potential, 97.87s, based on the market generated data. This probability path unfolded ahead of the NY open as price discovery to 97.80s has occurred.
NY Buying Tails