WTI Crude Oil Updates
25 Oct - WTI Oil, Waiting for Breakout
InvestorsDoctor
Publish date: Wed, 25 Oct 2017, 05:30 PM
InvestorsDoctor
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25/10/2017
WTI Crude Oil Dec 17
Yesterday Close: 52.47 +0.57
Oil prices rose in volatile trade yesterday, after Saudi energy minister said the focus remained on reducing oil stocks. Despite API weekly report show crude oil stocks slightly below forecast, but gasoline stocks down sharply, better than forecast, supported the oil price.
Based on hourly chart Fibo analysis, oil price retest critical resistance 6.854 Fibo level, with technical indicators show slightly bullish. Wait for confirmation of bull breakout if able to close above 52.65 previous high.
Price Level to monitor today:
Support: 51.55 50.88
Resistance 52.65 53.11
Recommended Trading Plan Today:
1. Sell 52.35, stop 52.48, profit 52.22/52.02
2. If expect price cannot close above 52.65, Sell 52.55-52.65, stop 52.73
3. Watch out for any buy confirmation signal
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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