19/12/2018

*WTI Crude Oil Feb 19*

Previous Close: 46.6 -3.6

Oil sink more than 5% yesterday in heavy trade due to fears of oversupply and slowing demand after a bearish API weekly crude oil stock data. Watch out for EIA weekly data on 1130pm tonight.

Hourly chart showed oil price continue to form new low after break down from previous sideway, more to bearish, but watch out for potential RSI bullish divergence may trigger some technical rebound in short term.

*Classic Support & Resistance*
Resistance: 49.90 52.15
Support: 45.58 43.65

*Recommend Trading Plan for the day:*
1. Look for technical rebound buy signal above 46.97.
2. Look for sell signal below 46.11

*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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