YGRN - WTI Weekly: Price Discovery Higher Continues To 61.40s

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, barring failure of 58.80s as support. This expectation did play out as support developed near 59.71s as sellers trapped in Monday’s auction. Price discovery higher ensued as a buy-side breakout above last week’s resistance drove price higher to 61.40s, developing sell excess ahead of Friday’s close, settling at 60.44s.

15-20 December 2019

This week’s auction saw balance development,

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