WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 14/2/2019 - Move in BB channel, wait for more breakout

InvestorsDoctor
Publish date: Thu, 14 Feb 2019, 11:33 AM
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14/2/2019

 
*WTI Crude Oil Mar 19*
 
Previous Close: 53.90 +0.8
 
Please be noted that Mar 19 contract will be expired on next Wed 20/2, traders may choose to trade Apr 19. Oil jumped to above 54 yesterday as tracking strength in stock market and trade deal hopes despite that EIA weekly report showed higher inventories build.
 
Daily chart showed crude entering sideway, required to close above 55.75 which is also around the 38.2 Fibo retracement level of swing 76.90-42.36 to trigger more upside. Traders may choose to trade in range 51-56, wait for breakout.
 
 *Classic Support & Resistance* 
Resistance: 55.75 57.96
Support: 52.95 51.23 50.38
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 54.60.
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4290
Mini Crude : USD 2145
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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