As noted in Thu’s analysis, focus on response to Thu’s trade cluster, 53.50s-56.50s, was key Fri’s auction as buying interest emerged following the Globex D shape distribution formation resulting in price discovery higher toward the Daily 1st Std Dev High. Focus on response to undefined resistance, 58.42s, into Mon’s auction.
Friday’s Micro-Blog Excerpt I
Noted here during Friday’s auction is the development of the Globex D shape distribution, implying the potential for directional activity. Initiative buy programs then entered, driving price toward the initial upside expectation, Thu’s HVN, 55.85s.
Friday’s Micro-Blog Excerpt II
Noted here during Friday’s auction is the buyside trend continuation following the micro-balance near the initial upside target, 55.85s. Order flow informed the expectation for higher prices as the market traded toward the Avg Daily Range High expectation.