WTI Crude Oil Updates
29 Nov - Oil Eyes on OPEC Meeting
InvestorsDoctor
Publish date: Wed, 29 Nov 2017, 05:42 PM
InvestorsDoctor
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29/11/2017
WTI Crude Oil Jan 18
Previous Close: 57.99 -0.12
Oil eased lower on yesterday, weighed down by uncertainty over the outcome of an OPEC meeting this week and weekly API report show crude inventories increased, against expectation. Watch out for EIA report and OPEC meeting tomorrow.
Daily chart show oil continue to be weakening after bearish engulfing chart pattern formed. Watch out for potential inverse cup and handle pattern if break below 57.33.
Price Level to monitor today:
Resistance: 58.11 59.05
Support: 57.33 56.33
Recommended Trading Plan Today:
1. If price go rebound 1st, sell 57.97-58.02, stop 58.12, profit 57.82-57.92
2. Sell 57.62, stop 57.77, profit 57.47
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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