WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 8/6/2018 - Venezuela tensions pushed up oil price

InvestorsDoctor
Publish date: Fri, 08 Jun 2018, 10:39 AM
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8/6/2018

*WTI Crude Oil Jul 18*

Previous Close: 65.95 +1.22

Crude oil surged near 2% to test 66 level yesterday, lifted by concern about decline in exports from Venezuela. Watch out for US oil rig count at 1am tomorrow.

Daily chart show a 1st day rebound from 2 months low, today sustain above 66 to form further rebound signal. Hourly chart show a rebound from RSI divergence and now testing RSI overbought zone.

*Classic Support & Resistance*
Resistance: 67.34 68.67
Support: 64.22 63.20

*Recommend Trading Plan for the day:*
1. Look for buy signal if break above 66.19.

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

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