Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Fri, 11 Oct 2019, 10:05 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 11/2/2019 - May enter short term technical correction, close below 50 to confirm

Author:   |    Publish date:




11/2/2019

 
*WTI Crude Oil Mar 19*
 
Previous Close: 52.71 +0.1
 
Oil settled slightly higher on last Friday but ended the week with a loss on renewed concerns about slowing global demand.
 
Daily chart showed crude oil retreat from upper BB, may enter sideway in short term, while 4H chart's technical indicators show no rebound signal yet.
 
 *Classic Support & Resistance* 
Resistance: 54.30 55.75
Support: 50.38 48.31
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 51.90.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4290
Mini Crude : USD 2145
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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