Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Thu, 25 Apr 2019, 10:57 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 15/3/2019 - 4 month high, bullish, watch out RSI overbought

Author:   |    Publish date:




15/3/2019

 
WTI Crude Oil Apr 19
 
Previous Close: 58.61 +0.35
 
Please be noted that Apr 19 contract will be expired on next Wed 20/3, traders may choose to trade May 19. Oil continue to close higher yesterday as tracking rebound in US stock market despite that the OPEC monthly report lower its demand forecast for this year. Watch out for IEA monthly report on 5pm tonight and US oil rig count on 1am tomorrow.
 
Daily chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence. 
 
 Classic Support & Resistance 
Resistance: 59.35 61.28
Support: 57.70 56.75
 
 Recommend Trading Plan for the day: 
1. Buy 58.75, stop 58.63, profit 58.87/58.99/59.11.
2. Sell 58.40, stop 58.52, profit 58.28/58.16/58.04.
 
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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