WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 21/11/2018 - Formed new lows, more to bearish with testing RSI oversold rebound now

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Publish date: Wed, 21 Nov 2018, 10:37 AM
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21/11/2018

 
*WTI Crude Oil Jan 19*
 
Previous Close: 53.43 -3.33
 
Oil fell sharply last night to below 53 new low Oct 2017 despite API showed a declining weekly inventories. Watch out for EIA weekly crude oil stock tonight on 1130pm.
 
Hourly chart formed new lows, more to bearish, with now testing a RSI oversold rebound.
 
 *Classic Support & Resistance* 
Resistance: 57.96 59.35
Support: 52.77 50.70
 
 *Recommend Trading Plan for the day:* 
1. Buy 54.28 for technical rebound, stop 54.08, profit 54.48/54.68.
2. Look for sell signal below 53.90.
 
*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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