WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 2/1/2019 - Continue in sideway, wait for more breakout signal

InvestorsDoctor
Publish date: Wed, 02 Jan 2019, 10:40 AM
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2/1/2019

 
*WTI Crude Oil Feb 19*
 
Previous Close: 45.41 +0.08
 
Oil traded in tight range but ended with losses in 2018 for the 1st time since 2015 over concerns of slowing global economic growth and mixed signals on oil supply & demand.
 
Hourly chart showed crude oil in sideway range while technical indicators in neutral, wait for breakout.
 
 *Classic Support & Resistance* 
Resistance: 47 48
Support: 44.37 42.36
 
 *Recommend Trading Plan for the day:* 
1. Sell 45.25, stop 45.40, profit 45.1/44.95/44.80.
2. Look for buy signal above 46.
 
*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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