24/9/2018
*WTI Crude Oil Nov 18*
Previous Close: 70.78 +0.54
Oil settled slightly higher on last Friday after major oil producers would consider to raise output. This morning, oil managed to climb to above 71.
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: 69.98 69.10
*Recommend Trading Plan for the day:*
1. Look for buy signal above 71.80.
2. Sell 71.41 for technical correction, stop 71.57, profit 71.25/71.09.
*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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