18/10/2018
*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. Crude oil fell to below 70 for the 1st time in a month after EIA reported a surprise build in weekly crude oil stock.
Hourly chart showed crude oil break down from the channel, more to bearish, but watch out for potential technical rebound signal in short term as RSI in oversold.
*Classic Support & Resistance*
Resistance: 72.53 75.16
Support: 68.97 67.74
*Recommend Trading Plan for the day:*
1. Look for sell signal below 69.38.
2. Look for technical rebound buy signal above 70.26.
*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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