14/6/2018

*WTI Crude Oil Jul 18*

Previous Close: 66.36 +0.26

Please be noted that Jul 18 will be expired on 20 June, traders may choose to trade Aug 18 contract. Crude oil closed slightly higher yesterday as EIA cuts US crude output growth forecast for 2019 offset bearish API weekly crude oil stock data. Watch out for EIA crude inventories tonight at 1030pm.

Both daily & hourly charts show crude oil testing rebound after hit lower lows. Watch out for potential hidden divergence in daily chart if RSI formed lower low while price go higher low.

*Classic Support & Resistance*
Resistance: 66.70 67.34 68.17
Support: 65.52 64.85 64.22

*Recommend Trading Plan for the day:*
1. Look for buy signal if break above 66.12.
2. Look for sell signal if break below 65.52.

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

Join our channels to find out more!

Telegram link:
https://t.me/investorsdoctoracademy

Facebook link: https://m.facebook.com/investorsdoctoracademy