WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 5/10/2018 - Retreat from 4 year high on profit taking

InvestorsDoctor
Publish date: Fri, 05 Oct 2018, 10:34 AM
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5/10/2018

 
WTI Crude Oil Nov 18
 
Previous Close: 74.33 -2.08
 
Oil tumbled as much as 3%, retreat from near 4 year high as profit taking after a strong rally. Watch out for US oil rig count tomorrow on 1am.
 
Daily chart remains bullish with correction from RSI overbought, while hourly chart showed retracement from RSI bearish divergence. 
 
 Classic Support & Resistance 
Resistance: 76.90 79.85
Support: 72.95 71.47
 
 Recommend Trading Plan for the day: 
1. Buy 74.94 for technical rebound, stop 74.81, profit 75.07/75.20.
 
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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