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home / news releases / NRGZ - WTI Weekly: Buy-Side Head Fake Early Week To 58.82s Aggressive Price Discovery Lower To 53.59s


NRGZ - WTI Weekly: Buy-Side Head Fake Early Week To 58.82s Aggressive Price Discovery Lower To 53.59s

In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action.

As noted in last week's WTI Weekly, the primary expectation for this week was for price discovery lower within the context of an uncomplete corrective phase from 60.94s. This expectation played out, following a meaningful relief rally early week to 58.82s, near key supply where selling interest emerged in Wednesday's auction, driving price aggressively lower to 53.59s in Thursday's trade where buy excess formed, halting the sell-side sequence ahead of Friday's auction, settling at 55.29s.

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Stock Information

Company Name: Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E Sr MedTrm Nt
Stock Symbol: NRGZ
Market: NYSE

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