As of 720 CST,
the market has auctioned higher from Thu Settlement, 94.76s, within yesterday’s Balance, 94.70s-95.30s.
Focus on this Balance area into 730 and Pit session.
As of 730 CST,
the market has auctioned above Wed Settlement, 93.74s, within yesterday’s range. Yesterday’s b shape structure did not lead to lower prices, and the Structural Selling Tail, 94.50s-94.25s, has been traded into. This implies burden of proof shifts to the sellside.
Focus into Pit session will be on continued development in near term Balance, 93.60s-94.50s, and any directional breakout from there.