WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 4/12/2018 - Close above 53.85 to trigger more upside

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Publish date: Tue, 04 Dec 2018, 10:08 AM
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4/12/2018

 
*WTI Crude Oil Jan 19*
 
Previous Close: 52.95 +2.02
 
Oil surged 4% yesterday after US and China agreed to a 90-day truce in a trade dispute and Canada's Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.
 
Hourly chart showed oil retreat from high of 53.85 but sustain above 52 level, likely to retest yesterday high.
 
 *Classic Support & Resistance* 
Resistance: 54.82 55.86
Support: 52.03 50.45
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 53.85.
 
*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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