Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Fri, 17 May 2019, 10:04 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 11/1/2019 - Continue rebound but watch out for RSI overbought

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11/1/2019

 
*WTI Crude Oil Feb 19*
 
Previous Close: 52.59 +0.23
 
Oil rose edged higher yesterday as supported by rebound in stock market and optimism on US-China trade talk. Watch out for US oil rig count data on 2am tomorrow.
 
Chart showed crude oil continue in rebound stage as candles formed higher highs & lows and technical indicators crossing up. Next Fibo extension level will be seen at around 54.50, but be cautious as RSI now in overbought.
 
 *Classic Support & Resistance* 
Resistance: 55.55 57.96
Support: 50.17 47.64
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 52.78.
2. Look for sell signal below 51.37.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4702.5
Mini Crude : USD 2350.7
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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