WTI Crude Oil Updates

19 Oct - WTI Oil Potential Weakness

InvestorsDoctor
Publish date: Thu, 19 Oct 2017, 06:09 PM
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19/10/2017
 
WTI Crude Oil Dec 17
 
Yesterday Close: 52.26 +0.09
 
 
Crude oil yesterday closed slightly higher, supported by EIA weekly report that crude inventories fell by 5.7 million barrels and above expectation.
 
Based on hourly chart analysis, price entering tight range, but both RSI & MACD moving downside, potentially drag down oil price. Any break above 52.65 will form inverted head & shoulder rebound signal.
 
Price Level to monitor today:
Support: 51.92 51.48
Resistance 52.39 52.65
 
WTI Oil Margin Requirement (per lot)
WTI Crude    : USD 2475
Mini Crude    : USD 1237.50
 
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