20/9/2018
*WTI Crude Oil Nov 18*
Previous Close: 70.77 +1.43
Oil surged nearly 2% yesterday after EIA announced declining inventories, better than API data despite below expectation and as supported by supply concerns over US sanctions on Iran.
Daily chart showed crude oil breakout from ascending triangle pattern, more to bullish, but watch out for potential retracement as there is RSI bearish divergence in hourly chart.
*Classic Support & Resistance*
Resistance: 72.83 75.27
Support: 70.15 69.10
*Recommend Trading Plan for the day:*
1. Look for buy signal above 71.35.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3410
Mini Crude : USD 1705
Disclaimer: Idea sharing only, trade at your own risk.
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