WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 10/6/2019 - Testing rebound from RSI oversold and recovery in stock market

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Publish date: Mon, 10 Jun 2019, 10:15 AM
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10/6/2019
 
WTI Crude Oil Jul 19
 
Previous Close: 53.99 +1.4
 
Oil rose nearly 3% on last Friday as Saudi Arabia said OPEC was close to reach an agreement to extend an production cut beyond June and as boosted by rebound in US market.
 
Hourly chart showed oil to retest 50% Fibo retracement level of swing 42.36-66.60, which is around 54.50, close above to trigger more rebound signal.
 
 Classic Support & Resistance 
Resistance:  55.70 57.86
Support:  52.62 50.60
 
 Recommend Trading Plan for the day: 
1. Look for buy signal above 54.84
2. Sell 53.98, stop 54.11, profit 53.85/53.72/53.59
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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