WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/2/2019 - Breakout from sideway but watch out for potential RSI bearish divergence

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Publish date: Mon, 18 Feb 2019, 11:01 AM
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18/2/2019

 
*WTI Crude Oil Apr 19*
 
Previous Close: 55.98 +1.19
 
Please be noted that Mar 19 contract will be expired on Wed 20/2, traders may choose to trade Apr 19. Oil jumped more than 2% to 3 month high as boosted by OPEC output cuts and strong gains in US stock market.
 
4H chart fomed a breakout from sideway, more to bullish, now testing 38.2 Fibo retracement level of swing 75.80-43.46, but be cautious of potential RSI bearish divergence. 
 
 *Classic Support & Resistance* 
Resistance: 58.70 62.02
Support: 53.33 51.00
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 56.52.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4290
Mini Crude : USD 2145
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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