WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 5/7/2018 - Enter sideway with lower highs, more correction ahead?

InvestorsDoctor
Publish date: Thu, 05 Jul 2018, 11:11 AM
To get more information on local and foreign futures markets, join us on telegram & Facebook.

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

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




5/7/2018

 
*WTI Crude Oil Aug 18*
 
Previous Close: 74.14
 
Oil entered sideway during US holiday. Watch out for EIA weekly crude inventories data at 11pm tonight.
 
Daily chart formed weakening candles, may see some technical correction in recent bullish trend, Hourly chart showed crude oil move in range within Fibo retracement of previous up swing (72.73-72.90), wait for breakout. However technical indicators crossing down, crude oil may test low 1st.
 
 *Classic Support & Resistance*
Resistance: 74.43 74.90 75.27
Support: 73.50 72.73 72.18
 
 *Recommend Trading Plan for the day:*
1. Trade in between 73.50-74.50, wait for breakout.
 
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3245
Mini Crude : USD 1622.5
 
Disclaimer: Idea sharing only, trade at your own risk.
 
Join our channels to find out more!
 
Telegram link:
https://t.me/investorsdoctoracademy
 
More articles on WTI Crude Oil Updates
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment