YGRN - WTI Weekly: Minor Price Discovery Higher To Key Supply Sell Response There As Balance Continues
In this article, we examine the significant weekly order flow and market structure developments driving WTI price action.
As noted in last week’s WTI Weekly, the primary expectation for this week was for price discovery higher. This expectation did play out, albeit modestly, as price discovery higher developed to 58.76s before structural sell excess halted the buy-side sequence. Price discovery lower then developed to 54s into Thursday’s auction, where structural buy excess halted the sell-side sequence. Balance then developed, 54s-55.68s, ahead of Friday’s auction, settling at 54.97s.
08-13 September, 2019
This week’s auction saw