15/2/2019
*WTI Crude Oil Apr 19*
Previous Close: 54.79 +0.44
Please be noted that Mar 19 contract will be expired on next Wed 20/2, traders may choose to trade Apr 19. Oil edged higher yesterday but upside may limited by weakening US economic data. Watch out for US oil rig count on 2am tomorrow.
4H chart showed crude oil remain in sideway, traders may look for range trading setup within 51-56, wait for breakout.
*Classic Support & Resistance*
Resistance: 56.05 58.70
Support: 53.33 51.62
*Recommend Trading Plan for the day:*
1. Look for buy signal above 55.39.
*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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