WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 13/12/2018 - Continue in sideway but fundamental slightly bearish

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Publish date: Thu, 13 Dec 2018, 10:46 AM
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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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