17/10/2018
WTI Crude Oil Dec 18
Previous Close: 71.76 +0.15
Please be noted that Nov 18 contract will be expired by next week, traders may choose to trade Dec 18. A decline in API weekly crude oil stock pushed oil price slightly higher, watch out for EIA weekly inventories tonight on 1030pm.
Hourly chart showed crude oil move in BB channel, may test lower band of BB, required to breakout range to trigger more signals.
Classic Support & Resistance
Resistance: 72.53 75.16
Support: 70.37 68.97
Recommend Trading Plan for the day:
1. Sell 71.80 for technical correction, stop 71.93, profit 71.67/71.54.
2. Look for buy signal above 72.29.
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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