WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 17/12/2018 - Continue in sideway but sentiment slightly bearish

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Publish date: Mon, 17 Dec 2018, 10:42 AM
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17/12/2018

 
*WTI Crude Oil Feb 19*
 
Previous Close: 51.47 -1.54
 
Please be noted that Jan 19 contract will be expired on 19 Dec, traders may choose to trade Feb 19 contract. Oil price unable to sustain above 53 level, dropped back about 2% on last Friday as weighed down by weak US stock market and weak China economic data.
 
Hourly chart showed a sideway from 49.60-54.77, wait for more breakout signal.
 
 *Classic Support & Resistance* 
Resistance: 53.50 54.77
Support: 49.60 47.59
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 51.78
2. Look for sell signal below 51.11
 
*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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