This week opened at/near 101.35s, within Balance, 100.90s-102.50s, during the first half of the week. Following the midweek sellside failure to drive price below Key Structural Support, 101s, buy programs entered, driving price up the range, achieving the Weekly Stopping Point High, 102.97s, where responsive sell programs entered.
Price discovery lower continued the back of the week, breaking down below Key Structural Support, achieving the Weekly Stopping Point Low, 100s. Responsive buy programs entered, driving price higher, closing at 101.11s.
Graphics
- Central Bank Assets & QE. (Reuters/Catherine Trevethan)
- China Implied Oil Demand. (Reuters/Catherine Trevethan)
- Q3 Earnings Thus Far. (Bespoke)
Central Banks
- Bank Of Israel Follows Fed, Appoints First Female Chair. (Zerohedge)
- ELA Procedures. (ECB)
- The Fed's Taper That Never Was Now Delayed Till March, Sayeth The Punditry Who Said Taper In Sep.... (Bloomberg)
Geopolitics
- Israel Seeks To Step Up Pressure on Iran. (AP)
- Years Of US Economic Espionage On Mexico. (RT)
Supply/Demand & Markets
- Texas Oil Production Could Double By 2020, Sayeth TX Railroad Commission. (Fuel Fix)