Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Tue, 22 Oct 2019, 11:25 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 18/9/2019 - Retreat on more to bearish weekly oil stock data

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18/9/2019
 
*WTI Crude Oil Nov 19*
 
Previous Close: 59.1 -3.57
 
Oil declined back to below 60 on profit taking after the previous strong spike and API weekly data show an increase in oil stock. Watch out for EIA data on 1030pm tonight.
 
Hourly chart down from RSI bearish divergence, testing to close downside gap, below 58 for more downside.
 
 *Classic Support & Resistance* 
Resistance: 64 66.50
Support: 53.90 52.70
 
 *Recommend Trading Plan for the day:* 
1. Sell 58.27, stop 58.40, profit 58.14/58.01/57.88
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4015
Mini Crude : USD 2007.50
 
Disclaimer: For idea sharing only, trade at your own risk
 
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