Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Tue, 31 Dec 2019, 12:23 PM

 

Daily Futures Commentaries: [WTI Crude Oil] 13/3/2019 - Entered consolidation, wait for breakout.

Author:   |    Publish date:




13/3/2019

*WTI Crude Oil Apr 19*

Previous Close: 56.87 +0.08

Crude oil closed slightly higher yesterday as supported by decreasing amount shown in API weekly crude oil stock data. Continue to watch out for EIA weekly crude oil stock on 1030pm tonight.

Hourly chart formed a strong V shape rebound from around 50% Fibo retracement level of swing 51.23-57.88, back to sideway to higher trend, close above 57.88 to trigger more upside.

*Classic Support & Resistance*
Resistance: 57.88 59.35
Support: 56.30 55.26

*Recommend Trading Plan for the day:*
1. Sell 56.74, stop 56.89, profit 56.59/56.44/56.29.
2. Look for buy signal above 57.55.

*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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