17/10/2017
Crude Oil Dec 17
Yesterday Close: 52.14 +0.44
Crude oil closed higher yesterday due to tension between Iraq and Kurdistan which we mentioned yesterday, but retraced from a high of 52.65, as market has priced in the sentiment.
Hourly chart show that oil price entered correction from overbought as indicated by RSI and William Alligator to cross down, break 52.11 will trigger further correction.
Price Level to monitor today:
Support: 51.89 51.27 50.48
Resistance 52.65 53.11
Recommended trading plan today:
Watch out for further entry signal
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50