WTI Crude Oil Updates
06 Oct Crude Oil Relief from Sluggish
InvestorsDoctor
Publish date: Fri, 06 Oct 2017, 02:49 PM
InvestorsDoctor
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06/10/2017
Crude Oil Nov 17
Yesterday Close: 50.79 +0.81
Oil prices rosed yesterday on expectations that Saudi Arabia and Russia would extend production cuts, the U.S. exports at record high and the return of supply from Libyan oilfield dragged on oil price. Last night, WTI price broke higher high and hit 51.22 at day high, then retrace to 50.58.
Hourly chart show oil price rebound from fibonacci ratio 6.854 level, a level of potential reversal that we mentioned previously. From the same set up, we can clearly see price retrace from 3.618 fibo level. This is one of the proprietary Fibonacci tools that we using.
Price Level to monitor today:
Resistance: 51.22
Support: 50.58
Recommend Trading Plan for the day:
Waiting for further confirmation
WTI Oil Margin Requirement (per lot)
WTI Crude: USD 2640
Mini Crude: USD 1320
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