16/11/2017
WTI Crude Oil Jan 18
Previous Close: 55.52 +0.36
Crude recovers despite EIA reported weaker inventory data because it was not as bearish as the previous API report.
Daily chart show price still sustain above middle line of BB, remain bullish with overbought correction. Hourly chart on the other hand, price rebounds from RSI oversold and now technical indicators show some rebound.
Price Level to monitor today:
Resistance: 56 56.50
Support: 55 54.50
Recommended Trading Plan Today:
1. Wait for breakout signal 56 or 55, meanwhile trade in range 55-56.
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2475
Mini Crude : USD 1237.50
Disclaimer: Idea for sharing, trade at your own risk.