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 sell-side activity following last week's stopping point high development and long liquidation. This expectation played out following an early week retracement rally to 64.75s, where selling interest ultimately drove price aggressively lower to 60.95s in Thursday's auction. Buying interest halted the sell-side sequence there before a retracement rally developed ahead of Friday's close to 62.52s, settling at 61.94s.
Sharedata Futures, Inc.