WTI Crude Oil Updates
02 Nov - WTI Crude Retraced from the High
InvestorsDoctor
Publish date: Thu, 02 Nov 2017, 04:34 PM
InvestorsDoctor
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02/11/2017
WTI Crude Oil Dec 17
Yesterday Close: 54.30 -0.34
Oil prices hit their highest level since mid-2015 and then retreated after EIA reported US crude stocks decreased by 2.4 million barrels during the week of Oct 27, below 5.1 million barrels decline reported by API. Watch out for next OPEC meeting at Vienna, Nov 30.
Daily chart show oil price retraced from outside of BB for 1st day yesterday. Hourly chart show mix signal as RSI in neutral, MACD testing zero zone, while price trades at lower BB, break below 53.75 may trigger further correction signal.
Price Level to monitor today:
Resistance: 54.61 55.22
Support: 53.89 53.75
Recommended Trading Plan Today:
1. Wait for further entry signal.
Next OPEC Meeting
30 Nov In Vienna, market expect supply cuts to extend beyond March 2018
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
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