4/6/2018

*WTI Crude Oil Jul 18*

Previous Close: 65.81 -1.1

Crude oil hit more than 1 month low as US oil rigs increase for 2nd week in row and surging US production limited its upside.

Daily chart remains in correction stage as technical indicators still more to downside. Hourly chart breaks down and formed lower lows & highs, more to bearish, with RSI approaching oversold, may see some technical rebound before it tests next support level.

*Classic Support & Resistance*
Resistance: 66.84 67.34
Support: 64.12 63.20

*Recommend Trading Plan for the day:*
1. Look for sell signal below 65.51.
2. Look for technical rebound buy signal above 65.94.

*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 2805
Mini Crude : USD 1402.5

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