WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 19/6/2018 - Rise ahead of OPEC meeting, but US trade war tension likely limited its upside

InvestorsDoctor
Publish date: Tue, 19 Jun 2018, 10:36 AM
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19/6/2018

*WTI Crude Oil Aug 18*

Previous Close: 65.69 +0.84

Oil recovered some of its previous losses as OPEC output tension eased, but trade dispute between US & China and uncertainty on coming OPEC meeting may limit upside of oil rebound.

Daily chart show crude oil remains at low range since Apr this year, testing Fibo retracement of 50%-61.8% of swing 56.49-72.70.

*Classic Support & Resistance*
Resistance: 66.16 67.02
Support: 64.78 63.40

*Recommend Trading Plan for the day:*
1. Look for buy signal if break above 65.82.
2. Look for sell signal if break below 65.33.

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

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