WTI Crude Oil Updates
[Oil Futures] - Expect More Downside
InvestorsDoctor
Publish date: Wed, 14 Feb 2018, 10:47 AM
InvestorsDoctor
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14/2/2018
WTI Crude Oil Apr 18
Previous Close: 59.03 -0.05
Crude oil Mar 18 contract will be expired on 20 Feb, traders may choose to trade Apr 18. Crude oil settled slightly lower yesterday after API reported a surprisingly increase of weekly crude inventories and IEA forecast crude supply this year could outstrip demand. Watch out today for EIA crude inventories at 1130pm.
Daily chart show crude oil enters a correction wave with technical indicators still crossing down. Hourly chart also pointed more downside, with next Fibo level at around 57.
Price Level to monitor today:
Resistance: 59.76 60.61
Support: 58.26 57.90 57.49
Recommend Trading Plan for the day:
1. Wait for further entry signal.
2. If expect resistance holds, sell 59.18 or above, stop 59.38, profit 0.2 or above.
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 2310
Mini Crude : USD 1155
Disclaimer: Idea for sharing purpose, trade at your own risk.
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