Monday’s Auction
- Globex Selling Interest To 57.63s, Gap Lower Open.
- Sellside Continuation In NY To 57.48s Near Our Avg Daily Range Low Expectation, Buying Interest There, Balance Development, Unsecured Low Forms.
- Focus Into Tue’s Auction On Response To Mon’s Unsecured Low, 57.39s.
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As noted in Fri’s analysis, the focus into Mon’s Auction on response to Supply Cluster, 58.40s-58.50s, was key as Globex selling interest emerged, driving price lower to 57.63s ahead of the NY Open as the market opened Gap Lower. Controlled Sellside price discovery developed to 57.48s near our Avg Daily Range Low Expectation where responsive buying entered, developing Balance, 57.48s-57.81s, closing at 57.47s.