BGR - XLE Weekly: Sell-Side Continuation Early Week Through Last Week's Unsecured Low Price Discovery Lower To 56.11s
In this article, we examine the significant weekly order flow and market structure developments driving XLE price action.
16- 21 December 2018:
As noted in last week’s XLE Weekly, the primary inference for this week was for sell-side continuation given last week’s Unsecured Low, 61.62s. It was noted that failure to defend at last week’s support (the August 2017 demand cluster) would result in further significant structural damage with price discovery potential toward early 2016’s key demand cluster, 58s-54s. This week’s auction saw selling interest early week at last week’s Unsecured Low before price