WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 29/11/2018 - Bearish inventories data expected to limit oil upside ahead of OPEC meeting

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Publish date: Thu, 29 Nov 2018, 11:41 AM
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29/11/2018

*WTI Crude Oil Jan 19*

Previous Close: 50.29 -1.27

Oil fell more than 2% last night after EIA reported a 10th straight week of US crude inventories build.

Hourly chart again retreated from 52 level and retest 50 level, close below 50 to trigger more downside.

*Classic Support & Resistance*
Resistance: 52.56 54.79
Support: 50.06 49.13

*Recommend Trading Plan for the day:*
1. Look for sell signal below 50.06
2. Look for techncial rebound buy signal above 51.04

*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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