WTI Crude Oil Updates
30 Oct - WTI Price Remain Bullish, Heading 55.04
InvestorsDoctor
Publish date: Mon, 30 Oct 2017, 03:27 PM
InvestorsDoctor
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30/10/2017
WTI Crude Oil Dec 17
Yesterday Close: 54.20
Oil closed at 6 months high on Friday trading as comments from Saudi about ending a global supply glut. OPEC scheduled to meet officially at 30 November meeting.
Based on the hourly chart, oil price breakout from the “triangle” formation remain intact. Both price and RSI continue to make higher high and higher low. Fibonacci Analysis suggesting price target of 55.04, coincidently this price level was April high. Buyer please be cautious when price approach 55 level.
Price Level to monitor today:
Support: 53.64
Resistance 54.55 & 55.04 (April High)
Recommended Trading Plan Today:
1. Buy if price make higher high 54.20, stop at the recent low, profit target based on 1 risk reward ratio.
2. Not recommend to sell as price moving higher high higher low.
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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One also need to look at Brent oil. WTI a bit laggard compared with Brent. Brent already breakthrough the last high of 59+ when Wti at 55-56..Now we should look at Brent next target at 70+ and Wti at 62+
2017-10-30 16:01
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
einvest88
crude oil 55-56 not a big resistance compared with 52-53. 52-53 was the neckline that take so many months to breakthrough. 55-56 just the high of 1st wave. With crude oil price now confirm in 3rd wave...min target is 72...We will expect for whole of 2018 crude oil prices will be trending up min 72 possible 100+ if 3rd wave is extension wave...You will see crude oil breaking 147+ in 10-20 years time...before electrical car come in big way into the market.
2017-10-30 15:52