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 lower within the context of an incomplete corrective phase from 60.94s. This expectation played out as balance continued early week within last week's demand cluster before selling interest emerged, 53.60s, driving price lower to 50.52s into Wednesday's trade where buying interest emerged, halting the sell-side sequence as a buy-side relief rally developed to 54.92s ahead of Friday's auction, settling