13/4/2018

 

WTI Crude Oil May 18

 

Previous Close: 67.07 +0.25

 

Please be noted that May 18 contract settlement date is on 20 Apr, traders may choose to trade Jun 18. Crude oil continues to break higher and settled above 67, the highest since late 2014 on tensions over Syria and shrinking global oil inventories as stated in OPEC monthly report. Today watch out for IEA monthly report at 4pm.

 

Daily chart show crude oil break out from ascending triangle, triggered further rebound signal. In hourly chart, crude oil retreat from high amid of RSI overbought correction.

 

 Classic Support & Resistance 

Resistance:  67.45 68 69

Support:    66 65.15

 

 Recommend Trading Plan for the day: 

1. Sell 66.79, stop 66.94, profit 66.64/66.49.

2. Buy 66.94, stop 66.79, profit 67.09/67.24.

 

WTI Oil Margin Requirement (per lot) 

WTI Crude : USD 2310

Mini Crude : USD 1155

 

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