WTI Crude Oil Updates
16 Oct - WTI Crude Oil Approaching Higher Price
InvestorsDoctor
Publish date: Mon, 16 Oct 2017, 05:48 PM
InvestorsDoctor
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16/10/2017
Crude Oil Nov 17
Yesterday Close: 51.45 +0.85
Crude oil closed higher on Friday, as data showed Chinese oil imports as high as 9 million barrels per day (bpd) in September, it was above average of 8.5 million bpd between January and September. Meanwhile, the tension between Iraq and Kurdistan over the oil rich city Kirkuk also lift the oil price, as Iraqi forces began advancing on to the city today.
Based on hourly chart Fibo analysis, oil price successfully broke previous high of 51.40, now testing 0.236 fibo level which is around 52. With higher highs & lows, trend expects continue to rebound.
Price Level to monitor today:
Support: 51.72 51.50 50.99
Resistance 52 52.44 52.87
Recommended trading plan today:
1. Buy at higher high 52 with stop at 51.72.
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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