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 (following the completed initial correction from 60.94s. This expectation played out, albeit it marginally, as price discovery higher developed to 57.64s into mid-week where structural sell excess developed before balance development continued, 57.64s-55.33s, ahead of Friday’s auction, settling at 56.25s.
Sharedata Futures, Inc.
21-26 July 2019
This week’s auction saw price discovery higher in Monday’s auction from last