WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/3/2019 - 4 month high, bullish, watch out RSI overbought

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Publish date: Mon, 18 Mar 2019, 10:35 AM
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18/3/2019

 
*WTI Crude Oil May 19*
 
Previous Close: 58.82 -0.02
 
Crude oil ended in flat on last Friday after IEA reported a lower production and remain its global oil demand growth for this year.
 
Hourly chart formed higher highs & lows, more to bullish, entering consolidation now before it break above 50% Fibo retracement level of swing 76.72-42.67, wait for breakout.
 
 *Classic Support & Resistance* 
Resistance: 59.25 61.44
Support: 58.03 57.08
 
 *Recommend Trading Plan for the day:* 
1. Sell 58.65 for technical correction, stop 58.79, profit 58.51/58.37/58.23.
2. Buy 58.94, stop 58.80, profit 59.08/59.22.
 
*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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