Highlights

WTI Crude Oil Updates

Author: InvestorsDoctor   |   Latest post: Fri, 14 Jun 2019, 10:18 AM

 

Daily Futures Commentaries: [WTI Crude Oil] 17/5/2019 - Testing rebound, watch out for Fibo level

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17/5/2019
 
*WTI Crude Oil Jul 19*
 
Previous Close: 63.06 +0.97
 
Please be noted that Jun 19 contract will be expired on next Tue 21/5, traders may choose to trade Jul 19. Oil lifted more than 1% yesterday as tensions in Middle East grew. Watch out for US oil rig count on 1am tomorrow.
 
Hourly chart showed oil testing 50% Fibo retracement level of swing 66.44-60.10, close above 64 for more upside.
 
 *Classic Support & Resistance* 
Resistance:  64.81 66.44
Support:  62.16 60.10
 
 *Recommend Trading Plan for the day:* 
1. Buy 63.70, stop 63.58, profit 63.82/63.94/64.06
2. Look for sell signal below 63
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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