WTI Crude Oil Updates
Daily Futures Commentaries: [WTI Crude Oil] 22/11/2018 - Bearish EIA weekly crude oil stock likely to limit upside of crude oil
InvestorsDoctor
Publish date: Thu, 22 Nov 2018, 10:26 AM
InvestorsDoctor
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22/11/2018
*WTI Crude Oil Jan 19*
Previous Close: 54.63 +1.2
Oil showed some recovery after recent decline in a row, but EIA still reported above expectation weekly crude oil stock build, likely to limit upside of crude oil.
Hourly chart formed technical rebound from RSI bullish divergence and now retreat from 61.8 Fibo retracement level, price below 54.54 (38.2 Fibo) indicated more to bearish trend to retest previous low of 52.77.
*Classic Support & Resistance*
Resistance: 55.86 57.96
Support: 52.77 50.70
*Recommend Trading Plan for the day:*
1. Look for technical rebound buy signal above 55.86.
2. Look for sell signal below 53.90.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3905
Mini Crude : USD 1952.50
Disclaimer: Idea sharing only, trade at your own risk.
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