Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Tue, 18 Jun 2019, 10:27 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 14/5/2019 - Mixed outlook, watch out for weekly inventories data

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14/5/2019
 
*WTI Crude Oil Jun 19*
 
Previous Close: 61.04 -0.62
 
Oil price fell sharply yesterday from above 63 on pressure of trade war. Watch out for OPEC monthly report on 7pm tonight and API weekly crude oil stock on 430am tomorrow.
 
Hourly chart formed a false breakout again and back into previous range, wait for more breakout. 
 
 *Classic Support & Resistance* 
Resistance:  63.33 64.75
Support:  60.04 57.74 
 
 *Recommend Trading Plan for the day:* 
1. Buy 61.23 for rebound, stop 61.08, profit 61.38/61.53/61.68
2. Sell 60.63, stop 60.78, profit 60.48/60.33/60.18
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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