WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 17/8/2018 - Steady but demand & production outlook still a question

InvestorsDoctor
Publish date: Fri, 17 Aug 2018, 10:07 AM
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17/8/2018

 
*WTI Crude Oil Sept 18*
 
Previous Close: 65.46 +0.45
 
Please be noted that Sep 18 contract will be expired on 21 Aug, traders may choose to trade Oct 18 contract. Oil rose slightly as global stock market steadied on yesterday, but a weakening crude demand & production outlook may limit its upside.
 
Daily chart showed crude oil in correction while there is a RSI bullish divergence in hourly chart ,may trigger technical rebound in short term.
 
 *Classic Support & Resistance*
Resistance: 66.54 67.51
Support: 64.43 63.59
 
 *Recommend Trading Plan for the day:*
1. Buy 65.53 for technical rebound, stop 65.38, profit 65.68/65.83.
 
*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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