WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/12/2018 - Break down from sideway, more to bearish

InvestorsDoctor
Publish date: Tue, 18 Dec 2018, 10:35 AM
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18/12/2018

 
*WTI Crude Oil Feb 19*
 
Previous Close: 50.2 -1.27
 
Oil fell more than 2% yesterday over concern of global economic growth and dragged down by weak US stock market. Oil price break below 50 this morning, sentiment more to bearish, watch out for API weekly crude oil stock on 530am tomorrow.
 
Hourly chart showed a breakdown from sideway, hit lowest since Oct 17, may test further support level, but watch out as RSI now in oversold, may have a technical rebound in short term.
 
 *Classic Support & Resistance* 
Resistance: 51.87 53.27
Support: 47 45.58
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 49.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4702.5
Mini Crude : USD 2350.7
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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