WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 20/3/2019 - Watch out for weekly data and RSI bearish divergence

InvestorsDoctor
Publish date: Wed, 20 Mar 2019, 11:14 AM
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20/3/2019

 
*WTI Crude Oil May 19*
 
Previous Close: 59.29 -0.09
 
Crude oil traded in flat range as API weekly data showed not much difference, Continue to watch out EIA data on 1030pm.
 
Hourly chart formed higher highs & lows, more to bullish, watch out for potential RSI bearish divergence. Now the price testing 50% Fibo retracement level of swing 76.90-42.36, wait for confirmation.
 
 *Classic Support & Resistance* 
Resistance: 59.57 61.28
Support: 58.62 57.74
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 58.60-59.60.
 
*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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