WTI Crude Oil Updates

15 Nov - WTI Crude in Correction

InvestorsDoctor
Publish date: Wed, 15 Nov 2017, 11:09 AM
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Following Message
15/11/2017
 
WTI Crude Oil Jan 18
 
Previous Close: 55.16 -1.78
 
 
Crude fell sharply yesterday, recorded for a 3rd day consecutive loss, after API reported unexpected increasing crude stock. IEA also surprisingly downgrade oil demand outlook in its monthly report.
 
Daily chart show RSI in overbought correction and MACD crossing down, expect to see more correction. Look further at hourly chart, RSI in oversold may trigger a technical rebound, but BB widening down and MACD in negative zone.
 
Price Level to monitor today:
Resistance: 56 56.50
Support: 54.63 53.82
 
Recommended Trading Plan Today:
1. Look for further sell signal below 55
 
Data to Watch Today:
11:30 PM - EIA OIL Stock Inventory
 
WTI Oil Margin Requirement (per lot)
WTI Crude    : USD 2475
Mini Crude    : USD 1237.50
 
Disclaimer: Idea for sharing, trade at your own risk.
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