Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Fri, 17 May 2019, 10:04 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 7/1/2019 - Formed technical rebound signal, watch out for resistance level.

Author:   |    Publish date:




7/1/2019

 
*WTI Crude Oil Feb 19*
 
Previous Close: 47.96 +0.87
 
Oil climbed to test 48 level on last Friday as tracking recovery in US stock market despite an increase in weekly crude oil stock as reported by EIA. Oil continue to go up this morning on optimism of US-China talk.
 
Hourly chart formed a technical rebound signal, Fibo extension level suggested that the next resistance level at around 49.6-50.
 
 *Classic Support & Resistance* 
Resistance: 49.59 51.87
Support: 45.35 44.37
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 47.60-49.30, wait for breakout.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4702.5
Mini Crude : USD 2350.7
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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