WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 16/8/2018 - Push down by an increase in EIA weekly crude oil stock

InvestorsDoctor
Publish date: Thu, 16 Aug 2018, 10:45 AM
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16/8/2018

 
*WTI Crude Oil Sept 18*
 
Previous Close: 65.01 -2.03
 
Please be noted that Sep 18 contract will be expired on 21 Aug, traders may choose to trade Oct 18 contract. Oil slid more than 3% yesterday after EIA showed an increase in weekly crude oil stock, compounding trade war concerns.
 
Daily & hourly charts showed oil continue in correction as technical indicators trending down, but watch out for potential RSI bullish divergence.
 
 *Classic Support & Resistance*
Resistance: 66.90 68.37
Support: 63.59 61.81
 
 *Recommend Trading Plan for the day:*
1. Look for technical rebound buy signal above 65.43.
 
*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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