WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 21/3/2019 - Bullish but watch out for RSI overbought

InvestorsDoctor
Publish date: Thu, 21 Mar 2019, 11:33 AM
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21/3/2019

 
*WTI Crude Oil May 19*
 
Previous Close: 59.99 +0.7
 
Crude oil lifted to above 60 after EIA reported a surprise draw in weekly stock data. 
 
Daily chart continue to form higher highs & lows, sustain above 50% Fibo retracement level of swing 76.90-42.36, more to bullish, may test 61.8 level around 63.7 but be cautious as RSI in overbought.
 
 *Classic Support & Resistance* 
Resistance: 61.28 62.42
Support: 58.56 57.74
 
 *Recommend Trading Plan for the day:* 
1. Buy 60.30, stop 60.16, profit 60.44/60.58/60.72.
2. Sell 59.94, stop 60.08, profit 59.8/59.66.
 
*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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