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WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Tue, 15 Oct 2019, 11:00 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 12/2/2019 - In technical correction but rebound stage intact, watch out for supply & demand data

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12/2/2019

*WTI Crude Oil Mar 19*

Previous Close: 52.41 -0.3

Oil settled lower yesterday as weighed down by supply & demand and global economic growth concerns. Watch out for OPEC monthly report on 7pm tonight and API weekly crude oil stock on 530am tomorrow.

4H chart formed a break down from a h&s bearish signal, back to previous range, close below 50 to trigger more downside.

*Classic Support & Resistance*
Resistance: 54.30 55.75
Support: 50.38 48.31

*Recommend Trading Plan for the day:*
1. Buy 52.65, stop 52.50, profit 52.80/52.95.
2. Look for sell signal below 52.24.

*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4290
Mini Crude : USD 2145

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

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