WTI Crude Oil Updates
18 Oct - WTI Crude, Roller Coaster Night while Trader Please Ready for Breakout
InvestorsDoctor
Publish date: Wed, 18 Oct 2017, 11:09 AM
InvestorsDoctor
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18/10/2017
WTI Crude Oil Dec 17
Yesterday Close: 52.17 -0.02
Crude oil traded in volatile range yesterday, price dragged down by eased geopolitical tension, but strong rebound come later with API report showed the weekly oil inventories fell by 7.1 million barrels to 461.4 million barrels. Trader please continue to watch out for EIA weekly inventory data tonight.
Based on hourly chart analysis, oil price now retest previous high of 52.65, if price break and close above 52.65 will form another buy signal, vice versa break below 51.48 will trigger sell signal and point to further correction. Indicators like MACD & RSI remain bullish, trader please wait for breakout signal to take position.
Price Level to monitor today:
Support: 51.48 51.28 50.48
Resistance 52.65 53.11
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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