WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 21/6/2018 - Drop in EIA weekly crude inventories push oil price up, but watch out for OPEC meeting

InvestorsDoctor
Publish date: Thu, 21 Jun 2018, 11:18 AM
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21/6/2018

 
WTI Crude Oil Aug 18
 
Previous Close: 65.71 +0.81
 
Oil rose on yesterday as price supported by drop in weekly crude oil inventories and as trade war tension eased. However, oil remains in range ahead of OPEC meeting. 
 
Daily chart show crude oil remains in correction stage as candles below middle line of BB, while MACD & RSI show no rebound signal yet. Hourly chart show oil move in range within the previous swing of 63.40-67.03.
 
 Classic Support & Resistance 
Resistance: 66.35 67.03
Support: 64.79 64.23
 
 Recommend Trading Plan for the day: 
1. Buy 65.81 for technical rebound, stop 65.67, profit 65.95/66.09.
2. Look for sell signal if break below 65.32.
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 2805
Mini Crude : USD 1402.5
 
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