WTI Crude Oil Updates

26 Oct - WTI Oil Moving Sideway, Waiting Breakout for Trend Confirmation

InvestorsDoctor
Publish date: Thu, 26 Oct 2017, 04:19 PM
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26/10/2017

WTI Crude Oil Dec 17

Yesterday Close: 52.17

Oil prices slipped on yesterday after surprising increase in crude inventories. An increase in U.S. refining output buoyed hopes for a draw in crude inventories in coming weeks.

Based on the hourly chart, oil price in sideway and forming a triangle. Breakout either side will confirm the next trend.

 

Price Level to monitor today:

Support: 51.89 51.55 & 50.87

Resistance 52.62 & 53.11

 

Recommended Trading Plan Today:

Waiting breakout from sideway range as show in the chart

 

WTI Oil Margin Requirement (per lot)

WTI Crude    : USD 2475

Mini Crude    : USD 1237.50

 

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