WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 24/1/2019 - Another lower low, watch out Fibo level

InvestorsDoctor
Publish date: Thu, 24 Jan 2019, 10:25 AM
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24/1/2019

 
*WTI Crude Oil Mar 19*
 
Previous Close: 52.62 -0.39
 
Oil slipped yesterday as weighed down by weaker US gasoline price and bearish API weekly crude oil stock data. Watch out for EIA weekly data on 12am tomorrow.
 
Hourly chart showed crude oil again sustain above 52, which is also around 38.2 Fibo retracement level of swing 50.66-54.51. Price traded below middle line of BB while technical indicators weakening,oil may test support 1st.
 
 *Classic Support & Resistance* 
Resistance: 53.64 54.51
Support: 51.86 50.66
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 51.86.
 
*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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