WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 10/10/2018 - Continue to test rebound but no confirm signal of bull resume yet

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Publish date: Wed, 10 Oct 2018, 10:19 AM
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10/10/2018

 
*WTI Crude Oil Nov 18*
 
Previous Close: 74.96 +0.67
 
Oil rose near 1% yesterday on expectation of slowing production due to a shutdown in Gulf of Mexico because of the Hurricane.
 
Hourly chart showed crude oil in testing rebound after a RSI bullish divergence to test 50%-61.8% Fibo retracement level of swing 76.90-73.07.
 
 *Classic Support & Resistance* 
Resistance: 75.28 76.90
Support: 74 73.07
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 74.59.
 
*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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