WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 29/1/2019 - Trade in sideway, wait for more breakout

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Publish date: Tue, 29 Jan 2019, 10:30 AM
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29/1/2019

 
*WTI Crude Oil Mar 19*
 
Previous Close: 51.99 -1.7
 
Oil tumbled about 3% yesterday as dragged down by weak stock market and concerns over supply & demand. Watch out for API weekly crude oil stock on 530am tomorrow.
 
Hourly chart showed crude oil move in sideway range, once hit below 38.2 Fibo retracement level of swing 50.38-54.24 and rebound. 
 
 *Classic Support & Resistance* 
Resistance: 52.86 54.24
Support: 51.33 50.38
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 52.29.
2. Look for sell signal below 51.84.
 
*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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