WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 4/10/2018 - Sustain at near 4 year high despite bearish EIA weekly crude inventories

InvestorsDoctor
Publish date: Thu, 04 Oct 2018, 11:22 AM
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4/10/2018

 
*WTI Crude Oil Nov 18*
 
Previous Close: 76.41 +1.18
 
Oil climbed to near 4 year high ahead of US sanctions on Iran, outweighed heavy build in US crude oil inventories reported by EIA last night. 
 
Daily & hourly charts showed bullish trend but be cautious as RSI in overbought and there is a bearish divergence in hourly chart, may trigger some technical correction in short term before go higher.
 
 *Classic Support & Resistance* 
Resistance: 77.02 79.85
Support: 74.30 72.95
 
 *Recommend Trading Plan for the day:* 
1. Buy 76.30, stop 76.13, profit 76.47/16.64.
2. Look for technical correction sell signal below 75.97.
 
*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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