WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 14/11/2018 - Hit 1 year low on bearish OPEC monthly report

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Publish date: Wed, 14 Nov 2018, 10:28 AM
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14/11/2018

 
*WTI Crude Oil Dec 18*
 
Previous Close: 55.69 -4.24
 
Please be noted that active month will change on 19/11/2018, traders may choose to trade Jan 19 contract. Oil fell sharply yesterday, hit 1 year low after OPEC monthly report forecast excess supply and slowing demand in 2019. Watch out for EIA monthly report on 5pm and crude oil inventories on 1130pm today.
 
Hourly chart formed more lower highs & lows, more to bearish, but be cautious as RSI in oversold.
 
 *Classic Support & Resistance* 
Resistance: 57.71 59.35
Support: 53.75 51.55
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 54.75.
 
*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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