WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 20/12/2018 - Rebound to above 48 on better EIA data compare to API

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Publish date: Thu, 20 Dec 2018, 10:51 AM
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20/12/2018

 
*WTI Crude Oil Feb 19*
 
Previous Close: 48.17 +1.57
 
Oil lifted up to above 48 yesterday after EIA showed smaller inventory build compare to API's data. 
 
Hourly chart formed a RSI oversold technical rebound, close above 48 to trigger more rebound signal.
 
 *Classic Support & Resistance* 
Resistance: 49.59 51.87
Support: 45.79 43.65
 
 *Recommend Trading Plan for the day:* 
1. Look for technical rebound buy signal above 47.51.
2. Sell 47.24, stop 47.41, profit 47.07/46.9.
 
*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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