30/1/2019
*WTI Crude Oil Mar 19*
Previous Close: 53.31 +1.32
Oil gained more than 2% yesterday after API reported a more to bullish weekly crude oil stock data and supported by geopolitical concerns. Watch out for EIA weekly data on 1130pm tonight.
4H chart showed crude oil continue to move in sideway range, may trade in BB channel and wait for more breakout signal.
*Classic Support & Resistance*
Resistance: 54.24 55.86
Support: 52.29 50.38
*Recommend Trading Plan for the day:*
1. trade in range 51.30-54.30.
2. Look for sell signal below 53.
*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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