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 buy-side activity following last week’s buy excess and late week buy-side breakout attempt. This expectation did play out as buying interest emerged early week, developing narrow balance, 56.44s-55.66s, above prior resistance before price discovery higher drove price to 57.81s into week’s end, closing at 57.26s.
17-22 February 2019
This week’s auction saw a buying interest in Sunday’s trade as minor price