21/9/2018
WTI Crude Oil Nov 18
Previous Close: 70.32 -0.45
Oil pulled back its gains on yesterday after US urged OPEC to increase production and as technical selling. Watch out US oil rig count at 1am tomorrow.
Daily chart showed crude oil breakout from ascending triangle pattern, more to bullish, while hourly chart showed a technical correction from RSI overbought.
Classic Support & Resistance
Resistance: 72.83 75.27
Support: 69.10 67.79
Recommend Trading Plan for the day:
1. Buy 70.30 for technical rebound, stop 70.16, profit 70.44/70.58.
2. Look for sell signal below 70.03.
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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