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WTI Crude Oil Updates

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

 

Daily Futures Commentaries: [WTI Crude Oil] 8/1/2019 - Retreat from Fibo level but rebound intact

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8/1/2019

 
*WTI Crude Oil Feb 19*
 
Previous Close: 48.52 +0.56
 
Oil edged higher yesterday to above 48 level as tracking recovery in US stock market. Watch out for APi weekly crude oil stock data on 530am tomorrow.
 
Hourly chart showed a retracement from 6.854 Fibo extension level but remain in rebound stage. 
 
 *Classic Support & Resistance* 
Resistance: 49.79 51.87
Support: 47.62 45.35
 
 *Recommend Trading Plan for the day:* 
1. Look for technical correction sell signal below 48.31.
2. Look for buy signal above 49.
 
*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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