WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 10/8/2018 - Extend losses at below 67

InvestorsDoctor
Publish date: Fri, 10 Aug 2018, 10:32 AM
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10/8/2018

 
WTI Crude Oil Sept 18
 
Previous Close: 66.81 -0.13
 
Oil settled slightly lower yesterday, extending previous losses on trade war tension and below expectation's US oil inventories. Watch out for US oil rig count at 1am tomorrow.
 
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 showed crude oil break down from sideway, triggered further correction signal, with now rebound from RSI oversold. 
 
 Classic Support & Resistance 
Resistance: 68.02 69.37
Support: 65.71 64.22
 
 Recommend Trading Plan for the day: 
1. Buy 66.80 for technical rebound, stop 66.63, profit 66.97/67.14.
2, Look for sell signal below 66.32.
 
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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