27/11/2018
*WTI Crude Oil Jan 19*
Previous Close: 51.63 +1.21
Oil rebounded more than 2% yesterday on technical buying and as tracking recovery in index market. Watch out for API weekly crude oil stock on 530am tomorrow.
Hourly chart showed a technical rebound from RSI bullish divergence, but not confirm bullish signal yet as MACD & RSI still below neutral level, required oil price to close above 53.66 to trigger more upside.
*Classic Support & Resistance*
Resistance: 52.25 53.57
Support: 50.10 49.13
*Recommend Trading Plan for the day:*
1. Look for sell signal below 50.72
2. Look for technical rebound buy signal above 52.25
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.5
Disclaimer: Idea sharing only, trade at your own risk.
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