WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 30/11/2018 - Strong rebound from below 50, watch out for OPEC meeting

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Publish date: Fri, 30 Nov 2018, 10:12 AM
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30/11/2018

 
*WTI Crude Oil Jan 19*
 
Previous Close: 51.45 +1.16
 
Oil reversed with nearly 2% of gains yesterday as Russia had accepted the need to cut production ahead of OPEC meeting. Watch out US oil rig count on 2am tomorrow. 
 
Hourly chart formed a strong rebound from below 50 for a RSI bullish divergence, close above 52.56 to trigger more upside.
 
 *Classic Support & Resistance* 
Resistance: 52.56 53.57
Support: 49.41 48
 
 *Recommend Trading Plan for the day:* 
1. Buy 51.63, stop 51.45, profit 51.81/51.99.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4510
Mini Crude : USD 2255
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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