WTI Crude Oil Updates
[OIL Futures] - In Short term Correction
InvestorsDoctor
Publish date: Mon, 08 Jan 2018, 02:35 PM
InvestorsDoctor
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8/1/2018
WTI Crude Oil Feb 18
Previous Close: 61.44 -0.57
Oil fell on last week as soaring US crude production offset the effect of political tension in Iran, too caused by some profit taking after sharply gains on oil price.
Daily chart's RSI in overbought, may trigger technical selling while hourly chart's technical indicators moving down, expect to see correction before oil continue its bull rally.
Price Level to monitor today:
Resistance: 62.21 62.58
Support: 61.09 59.93
Recommended Trading Plan Today:
1. Sell 61.53, stop 61.75, profit 62.31.
2. Watch out for rebound buy signal at 61.75
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2310
Mini Crude : USD 1155
Disclaimer: Idea for sharing, trade at your own risk.
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