19/10/2018
*WTI Crude Oil Dec 18*
Previous Close: 68.71 -3.05
Please be noted that Nov 18 contract will be expired by next week, traders may choose to trade Dec 18. Bearish US crude oil inventories continue to push down oil price to below 70. Watch out for US oil rig count on 1am tomorrow.
Hourly chart formed lower highs & lows, more to bearish, but watch out for potential RSI bullish divergence rebound.
*Classic Support & Resistance*
Resistance: 70.26 72.53
Support: 67.74 66.50
*Recommend Trading Plan for the day:*
1. Look for sell signal below 68.53
2. Look for buy signal above 69.69.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3410
Mini Crude : USD 1705
Disclaimer: Idea sharing only, trade at your own risk.
Join our channels to find out more!
Telegram link:
https://t.me/investorsdoctoracademy
Facebook link: https://m.facebook.com/investorsdoctoracademy