15/1/2019
*WTI Crude Oil Feb 19*
Previous Close: 50.78 -0.81
Oil fell for the 2nd day to below 51 as dragged down by a weak China economic data. Watch out for API weekly crude data on 530am tomorrow.
Hourly chart showed crude oil hit near 1 week low and rebound from RSI oversold zone, which is also around the Fibo level. Close above 51.81 to trigger double bottom rebound signal.
*Classic Support & Resistance*
Resistance: 51.81 52.36
Support: 50.38 49.54
*Recommend Trading Plan for the day:*
1. Look for sell signal below 50.38.
2. Look for buy signal above 51.81.
*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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