USOD - WTI Weekly: Selling Interest At Key Support Sell-Side Breakdown To 57.33s
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 buy-side activity. This expectation did not play out as a re-test of last week’s resistance developed early week where selling interest held the auction. Rotation lower to key support, 62.60s, ultimately resulted in new selling interest there, driving price aggressively lower to 57.33s ahead of Thursday’s close, settling at 57.91s.
Sharedata Futures, Inc.
19 – 23May 2019
This week’s auction saw