9/1/2019
WTI Crude Oil Feb 19
Previous Close: 49.78 +1.26
Oil rose more than 2% yesterday on bullish API weekly crude oil stock data and supported by recovery of US stock market. Watch out for EIA weekly data on 1130pm tonight.
Hourly chart formed higher highs & lows, more to bullish, focus on buy setup.
Classic Support & Resistance
Resistance: 51.87 53.27
Support: 48.31 47.62
Recommend Trading Plan for the day:
1. Buy 50.62, stop 50.41, profit 50.83/51.04/51.25.
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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