In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action.
As noted in last week's WTI Weekly, the primary expectation for this week was for price discovery higher. This expectation played out, albeit modestly, as price discovery higher developed to 57.13s within key supply into Wednesday's trade. Buying interest trapped there amidst structural sell excess, halting the buy-side sequence, driving price lower to 54.85s ahead of Friday's auction, settling at 53.80s.
Sharedata Futures, Inc.
18-23 August 2019
This week's auction saw sellers trap, 55.02s/55.10s, in Monday's