WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 2/8/2018 - EIA weekly report show surprise build in crude oil stock, pressure price down

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Publish date: Thu, 02 Aug 2018, 10:40 AM
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2/8/2018

 
WTI Crude Oil Sept 18
 
Previous Close: 67.66 -1.1
 
Oil fell to below 68 yesterday as a surprise increase in EIA weekly crude oil stock weighed down the price.
 
Daily chart showed crude oil entered into a technical correction in a bull rally after a RSI bearish divergence. Hourly chart showed crude oil still moving in a sideway, wait for breakout.
 
 Classic Support & Resistance 
Resistance: 69.16 70.43 
Support: 67.04 65.71
 
 Recommend Trading Plan for the day: 
1. Look for technical rebound buy signal above 68.15.
2. Look for sell signal below 67.77.
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 3795
Mini Crude : USD 1897.50
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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