WTI Crude Oil Updates

[Oil Futures] - Still in Range Market

InvestorsDoctor
Publish date: Fri, 16 Mar 2018, 02:36 PM
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Following Message
16/3/2018
 
WTI Crude Oil May 18
 
Previous Close: 61.25 +0.23
 
 
Please be noted that WTI crude Apr 18 contract will be expired on 20/3, traders may choose to trade May 18 contract. Crude oil edged up yesterday on support of US stock market recovery. Watch out for US oil rig count data tonight.
 
IEA report that forecast higher global oil demand for 2018, but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018, limited upside for crude oil.
 
In daily chart, crude oil remains in triangle pattern, wait for breakout, but technical indicators pointed more to downside. Hourly chart show crude oil move in sideway range.
 
 Price Level to monitor today: 
Resistance:  61.54 61.97 62.33
Support:    60.82 60.11 59.72
 
 Recommend Trading Plan for the day: 
1. Sell 61.11, stop 61.28, profit 60.94/60.77.
2. Buy 61.28, stop 61.11, profit 61.45/61.62.
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 2310
Mini Crude : USD 1155
 
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