WTI Crude Oil Updates

23 Oct - WTI Oil Remain Bullish, Trader Please Wait For Breakout

InvestorsDoctor
Publish date: Mon, 23 Oct 2017, 02:23 PM
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23/10/2017
 
WTI Crude Oil Dec 17
 
Yesterday Close: 51.84 +0.33
 
 
Crude oil closed higher last Friday with support from sharp declined in Iraqi crude exports due to tensions in the Kurdistan region.Oil exports from Iraq's Kurdistan towards the Turkish at 216,000 barrels per day versus the usual flows of 600,000, a shipping source said.
 
Based on hourly chart Fibo analysis, oil price trades mostly flat, in between 4.236-6.854 Fibo level. Indicators like BB, MACD, RSI also moving flat, trader please wait for breakout signal to enter the market.
 
Price Level to monitor today:
Support: 51.92 51.48
Resistance 52.65 53.11
 
Recommended Trading Plan Today:
1. Sell 52.09 with stop at 52.25, profit 51.93
2. Buy 52.25 with stop at 52.09, profit 52.41
 
WTI Oil Margin Requirement (per lot)
WTI Crude    : USD 2475
Mini Crude    : USD 1237.50
 
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