7/11/2018
*WTI Crude Oil Dec 18*
Previous Close: 62.21 -0.93
Oil hit 8 month low during Msia public holiday on higher than expected API weekly crude oil stock. Continue to watch out EIA weekly data on 1130pm tonight.
Hourly chart formed more lower highs & lows, more to bearish, but watch out for potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 63.32 64.14
Support: 59.95 58.07
*Recommend Trading Plan for the day:*
1. Buy 61.91 for technical rebound, stop 61.78, profit 62.04/62.17.
2. Look for sell signal below 61.65.
*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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