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 neutral to sell-side activity following the recent development of a stopping point high, 64.79s. This expectation played out only after a false buy-side breakout developed early in the week, driving price higher achieving the weekly stopping point high, 66.60s, where selling interest ultimately drove price aggressively lower to 62.28s ahead Friday’s close, settling at 63.30s.
Sharedata Futures, Inc.
21-26 April 2019