WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 29/4/2019 - Entered technical correction, close below 62 for more downside

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Publish date: Mon, 29 Apr 2019, 11:03 AM
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29/4/2019
 
*WTI Crude Oil Jun 19*
 
Previous Close: 63.3 -1.91
 
Crude oil fell 3% on last Friday after US President again pressured OPEC to raise crude production.
 
Hourly chart showed crude oil entered technical correction, RSI in oversold, may trigger some technical rebound 1st.
 
 *Classic Support & Resistance* 
Resistance:  63.37 64.35
Support:  62.28 61.60
 
 *Recommend Trading Plan for the day:* 
1. Sell 62.70, stop 62.85, profit 62.55/62.40
2. Look for buy signal above 63.37
3. Look for sell signal below 62.28
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3740
Mini Crude : USD 1870
 
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