Oil & Gas Daily 09Jun

Following Tue's Rally To 70.12s, Wed's Auction Saw A Globex Continuation Higher To 70.62s As Mon's Buy Spike Held As Support. Sell Excess Emerged There As Balance Developed, 70.62s-70.13s, Into The NY Open. A Retest Of Globex Resistance Developed Through The EIA Release (-5.24mil v -2mil exp), Where Buyers Trapped. A Selloff Ensued Through The Breakout Area To 69.46s. Sellers Trapped There Amidst Buy Excess, Halting The Downward Auction. A Relief Rally Ensued To 70.05s Near The Breakdown Point As Selling Interest Emerged There Into The NY Close....