WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 12/10/2018 - Dragged down by global stock market selloff and bearish US crude oil inventories

InvestorsDoctor
Publish date: Fri, 12 Oct 2018, 11:16 AM
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12/10/2018

 
*WTI Crude Oil Nov 18*
 
Previous Close: 70.97 -2.2
 
Oil slumped to more than 2 week low yesterday as dragged down by global stock market sell off and bigger than expected build in US crude oil stock, as reported by EIA. 
 
Hourly chart formed lower highs & lows, showed more downside ahead, but watch out for potential RSi bullish divergence may support oil price in short term.
 
 *Classic Support & Resistance* 
Resistance: 72.61 73.60
Support: 69.98 68.53
 
 *Recommend Trading Plan for the day:* 
1. Buy 71.31 for technical rebound, stop 71.18, profit 73.44/73.57.
 
*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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