WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 25/9/2018 - Hit near 4 year high, more to bullish but with possible short term correction.

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Publish date: Tue, 25 Sep 2018, 10:07 AM
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25/9/2018

 
*WTI Crude Oil Nov 18*
 
Previous Close: 72.08 +1.3
 
Oil jumped more than 1 dollar to near 4 year high after Saudi Arabia & Russia ruled out any immediate increase in production. Watch out for API weekly crude oil stock at 430am tomorrow.
 
Daily chart showed crude oil formed higher high and low to break new high, more to bullish, but watch out for potential retracement as there is RSI bearish divergence in hourly chart.
 
 *Classic Support & Resistance* 
Resistance: 72.74 75.27
Support: 71.44 69.98 
 
 *Recommend Trading Plan for the day:* 
1. Sell 72.01 for technical correction, stop 72.17, profit 71.85/71.69.
2. Look for buy signal above 72.33.
 
*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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