27/8/2018
*WTI Crude Oil Oct 18*
Previous Close: 68.72 +0.89
Oil gained more than 1% on last Friday as Iran sanctions may limit global supply and trade war may not curb China's demand for US crude.
Daily chart showed crude oil in testing rebound, required to form higher highs & lows to confirm. Hourly chart showed a technical correction from RSI overbought, now testing middle line of BB.
*Classic Support & Resistance*
Resistance: 69.92 71.16
Support: 67.32 65.98
*Recommend Trading Plan for the day:*
1. Look for buy signal above 68.77.
2. Look for sell signal below 68.25.
*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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