31/10/2017
WTI Crude Oil Dec 17
Yesterday Close: 54.12
Oil hit 6 months high on yesterday trading as speculation of extending supply cut by Russia and Saudi remained. Oil prices eased on Tuesday as traders took profit after 5% rise In Oct and the prospect of increasing US exports dampened overall bullish sentiment.
Based on the hourly chart, the market currently trading sideway after hit new high. Both price and RSI moving series of higher low. However, the momentum of buying slow down indicate by RSI lower high, the bearish divergence setup to be confirm when price trading below 53.75.
Price Level to monitor today:
Resistance 54.46 & 55.04 (April High)
Support: 53.75
Recommended Trading Plan Today:
1. Buy if price make higher high 54.46, stop at the recent low, profit target based on 1 risk reward ratio.
2. Sell if price below 53.75, stop at the recent high, profit target based on 1 risk reward ratio.
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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Created by InvestorsDoctor | Dec 31, 2019
Created by InvestorsDoctor | Dec 18, 2019
Created by InvestorsDoctor | Dec 17, 2019