WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 8/8/2018 - Iran sanctions stir supply worries, price up

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Publish date: Wed, 08 Aug 2018, 10:19 AM
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8/8/2018

 
*WTI Crude Oil Sept 18*
 
Previous Close: 69.17 +0.68
 
Oil rose on yesterday, back to above 69 after US sanctions on Iran went into effect.
 
Daily chart showed crude oil in a technical correction stage as candles below middle line of BB, yet overall in a bull trend. Hourly chart show oil in a large range sideway, wait for breakout.
 
 *Classic Support & Resistance*
Resistance: 69.92 71.10
Support: 67.87 66.92
 
 *Recommend Trading Plan for the day:*
1. Look for buy signal above 69.38.
2, Look for sell signal below 68.98.
 
*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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