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WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Tue, 23 Apr 2019, 10:17 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 11/3/2019 - Testing break down but formed a V shape rebound

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11/3/2019

 
*WTI Crude Oil Apr 19*
 
Previous Close: 56.07 -0.59
 
Crude oil fell around 1% on last Friday after below expected US economic data revived concerns about slowing economic growth and weaker demand for oil.
 
Hourly chart showed oil managed to reversed part of losses from below 55 to above 56, may enter range 54-58.
 
 *Classic Support & Resistance* 
Resistance: 57.19 57.88
Support: 55.71 54.52
 
 *Recommend Trading Plan for the day:* 
1. Buy 56.30, stop 56.15, profit 56.45/56.60/56.75.
2. Sell 55.95, stop 56.10, profit 55.80/55.65/55.50.
 
*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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