8/1/2019
*WTI Crude Oil Feb 19*
Previous Close: 48.52 +0.56
Oil edged higher yesterday to above 48 level as tracking recovery in US stock market. Watch out for APi weekly crude oil stock data on 530am tomorrow.
Hourly chart showed a retracement from 6.854 Fibo extension level but remain in rebound stage.
*Classic Support & Resistance*
Resistance: 49.79 51.87
Support: 47.62 45.35
*Recommend Trading Plan for the day:*
1. Look for technical correction sell signal below 48.31.
2. Look for buy signal above 49.
*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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