WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/7/2018 - API crude inventories increase weighed down oil price

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Publish date: Wed, 18 Jul 2018, 10:18 AM
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18/7/2018

 
*WTI Crude Oil Sept 18*
 
Previous Close: 67.16 +0.09
 
Oil slumped to around 66.3+ during the session yesterday because of surprise build in API weekly stock but pulled back and settled above 67 as supported by late buying.
 
Daily chart showed crude oil closed below middle line of BB, may trigger more correction.
 
 *Classic Support & Resistance*
Resistance: 68.03 69.64
Support: 65.32 63.90
 
 *Recommend Trading Plan for the day:*
1. Look for buy signal above 67.01.
2. Sell 66.80, stop 66.92, profit 66.68/66.56.
 
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3575
Mini Crude : USD 1787.5
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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