01 Nov - WTI Oil Continue Higher High Journey, Inventory Data to Release Tonight




01/11/2017
WTI Crude Oil Dec 17
Yesterday Close: 54.64


Oil prices settled higher again on Tuesday. Widening of Brent/WTI spread encouraging US producers to export more oil. US government oil inventory data will be released at 10:30 pm tonight.
Based on the hourly chart, the market continue to make new high, both price and RSI are moving higher high and higher low. Trend in healthy bullish.

Price Level to monitor today:
Resistance 55.53 & 56.04
Support: 54.49. 53.93

Recommended Trading Plan Today:
1.     Not recommend to chase the high, as inventory data to be release tonight
2.     Not recommend to sell

Next OPEC Meeting
30 Nov In Vienna, market expect supply cuts to extend beyond March 2018

WTI Oil Margin Requirement (per lot)
WTI Crude    : USD 2475
Mini Crude    : USD 1237.50

Disclaimer: Idea for sharing, trade at your own risk.



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