WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 13/11/2018 - More lower highs & lows, but watch out for potential technical rebound

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Publish date: Tue, 13 Nov 2018, 10:01 AM
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13/11/2018

 
*WTI Crude Oil Dec 18*
 
Previous Close: 59.93 -0.26
 
Oil settled below 60, marked a 11th consecutive session of fall as US President said that oil price should be much lower based on supply. 
 
Hourly chart formed more lower highs & lows, more to bearish, but watch out for potential RSI bullish divergence.
 
 *Classic Support & Resistance* 
Resistance: 61.28 62.42 
Support: 58.07 55.87
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 58.68.
2. Buy 59.14 for technical rebound, stop 58.92, profit 59.36/59.58.
 
*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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