28/6/2018
*WTI Crude Oil Aug 18*
Previous Close: 72.76 +2.23
Oil hit its highest since Nov 2014 and closed at higher high, more to bullish, as EIA reported more than expected decrease of weekly crude oil stocks, plus production remains the same.
Daily chart formed higher high while technical indicators crossing up, potentially to continue test previous high, but watch out for potential technical correction as hourly chart show oil in RSI overbought.
*Classic Support & Resistance*
Resistance: 73.56 74.48
Support: 70.56 67.72
*Recommend Trading Plan for the day:*
1. Look for buy signal above 73.06.
2. Look for technical correction sell signal below 72.18.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3025
Mini Crude : USD 1512.5
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