WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 24/12/2018 - More to bearish, but watch out for potential RSI bullish divergence

InvestorsDoctor
Publish date: Mon, 24 Dec 2018, 10:27 AM
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24/12/2018

 
*WTI Crude Oil Feb 19*
 
Previous Close: 45.59 -0.29
 
Oil extended its losses to nearly 1 & half year low on last Friday on supply & demand concerns, also dragged down by weak US stock market.
 
Both daily & hourly charts formed lower highs & lows, but watch out for potential RSI bullish divergence. 
 
 *Classic Support & Resistance* 
Resistance: 46.77 48
Support: 43.65 42
 
 *Recommend Trading Plan for the day:* 
1. Buy 45.74 for technical rebound, stop 45.59, profit 45.89/46.04.
2. Look for sell signal below 45.
 
*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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