15/11/2018
*WTI Crude Oil Jan 19*
Previous Close: 56.44 +0.78
Crude oil showed a technical rebound after consecutive days of losses but API weekly crude oil stock still above expectation. Watch out for EIA weekly crude oil stock on 12am tomorrow, a higher than expected inventories will likely to limit upside of rebound.
Hourly chart formed a RSI oversold rebound but yet to sustain above 61.8 Fibo retracement level, trend is still more to bearish.
*Classic Support & Resistance*
Resistance: 57.55 59.51
Support: 54.90 53.74
*Recommend Trading Plan for the day:*
1. Sell 55.99, stop 56.21, profit 55.77/55.55.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3410
Mini Crude : USD 1705
Disclaimer: Idea sharing only, trade at your own risk.
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