16/11/2018
*WTI Crude Oil Jan 19*
Previous Close: 56.44 +0.24
Oil rose for 2nd day despite EIA reported large increase of weekly stock, upside likely be limited. Watch out for US oil rig count on 2am tomorrow.
Hourly technical indicators crossing up, showed oil in testing rebound, close above 58 to trigger more upside.
*Classic Support & Resistance*
Resistance: 57.85 59.51
Support: 55.80 54.90
*Recommend Trading Plan for the day:*
1. Buy 56.94, stop 56.81, profit 57.07/57.20/57.33.
*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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