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 52.39s as support. This expectation did play out as buying interest emerged early week within key demand. Price discovery higher then ensued to 56.74s, ahead of Friday’s close, settling at 56.66s.
20-25 October 2019
This week’s auction saw minor price discovery lower in Monday’s trade, achieving the weekly stopping point low, 52.84s. Buy excess developed