29/6/2018
*WTI Crude Oil Aug 18*
Previous Close: 73.45 +0.69
Oil continued to mark higher yesterday, hit a 3.5 year high, on support of bullish crude oil inventories and possible US sanction to cut Iran crude exports sharply.
Daily chart formed higher high while technical indicators crossing up, potentially to continue test previous high, but watch out for potential RSI bearish divergence in daily chart and hourly chart show a technical correction from RSI overbought.
*Classic Support & Resistance*
Resistance: 74.48 76.58
Support: 72.20 70.02
*Recommend Trading Plan for the day:*
1. Look for buy signal above 73.42.
2. Look for technical correction sell signal below 72.93.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3025
Mini Crude : USD 1512.5
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