USO - WTI Weekly: Sell-Side Continuation To 56.33s
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 sell-side activity. This expectation did play out as balance developed early week within last week’s lower cluster. A false breakdown developed to 56.87s in Wednesday’s auction before selling interest ultimately drove price lower to 56.33s in sell-side continuation ahead of Thursday’s close, settling at 56.60s.
Sharedata Futures, Inc.
26 – 31May 2019
This week’s auction saw buying interest, 58.37s, in Monday’s