WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 20/2/2019 - Bullish, watch out for weekly stock data

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Publish date: Wed, 20 Feb 2019, 10:35 AM
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20/2/2019

 
*WTI Crude Oil Apr 19*
 
Previous Close: 56.45 +0.47
 
Oil settled higher yesterday on optimism of US-China trade talk. Watch out for API weekly crude oil stock data on 530am tomorrow.
 
4H chart formed a breakout from sideway which is also above 38.2 Fibo retracement level of swing 75.80-43.46 , more to bullish, but be cautious of potential RSI bearish divergence. 
 
 *Classic Support & Resistance* 
Resistance: 57.96 59.35
Support: 55.29 54.20
 
 *Recommend Trading Plan for the day:* 
1. Buy 56.42, stop 56.29, profit 56.55/56.68/56.81.
 
*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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