13/12/2018
*WTI Crude Oil Feb 19*
Previous Close: 51.36 -0.73
Please be noted that Jan 19 contract will be expired on 19 Dec, traders may choose to trade Feb 19 contract. Oil price tumbled after EIA report a lower than expected inventory draw. Watch out for IEA monthly report today on 5pm.
Hourly chart showed a sideway from 49.60-54.77, wait for mroe breakout signal.
*Classic Support & Resistance*
Resistance: 53.06 54.77
Support: 49.60 47.59
*Recommend Trading Plan for the day:*
1. Buy 51.70 for technical rebound, stop 51.50, profit 51.90/52.10.
2. Look for sell signal below 51.16
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4702.5
Mini Crude : USD 2350.7
Disclaimer: Idea sharing only, trade at your own risk.
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