4/12/2018
*WTI Crude Oil Jan 19*
Previous Close: 52.95 +2.02
Oil surged 4% yesterday after US and China agreed to a 90-day truce in a trade dispute and Canada's Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.
Hourly chart showed oil retreat from high of 53.85 but sustain above 52 level, likely to retest yesterday high.
*Classic Support & Resistance*
Resistance: 54.82 55.86
Support: 52.03 50.45
*Recommend Trading Plan for the day:*
1. Look for buy signal above 53.85.
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4510
Mini Crude : USD 2255
Disclaimer: Idea sharing only, trade at your own risk.
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