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WTI Crude Oil Updates

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

 

Daily Futures Commentaries: [WTI Crude Oil] 23/12/2019 - Testing technical correction, below 60 for more downside

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23/12/2019
 
*WTI Crude Oil Feb 20*
 
Previous Close: 60.44 -0.74
 
Oil fell on last Friday, but still managed to post its third straight week of gains amid the easing of US-Chinese trade tensions.
 
Hourly chart testing technical correction, close below 60 to trigger more downside.
 
 *Classic Support & Resistance* 
Resistance: 60.70 61.40
Support: 59.70 59.10
 
 *Recommend Trading Plan for the day:* 
1. Sell 60, stop 60.13, profit 59.87/59.74/59.61
2. Buy 60.28, stop 60.15, profit 60.41/60.54/60.67
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4125
Mini Crude : USD 2062.50
 
Disclaimer: For idea sharing only, trade at your own risk
 
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