WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 22/2/2019 - Remain bullish with possible short term technical correction

InvestorsDoctor
Publish date: Fri, 22 Feb 2019, 10:29 AM
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22/2/2019

*WTI Crude Oil Apr 19*

Previous Close: 56.96 -0.2

Oil down slightly yesterday on higher weekly crude oil stock as reported by EIA and as tracking weakness in stock market. Watch out for US oil rig count on 2am tomorrow.

Chart remain bullish but technical indicators declining, may see some profit taking in short term.

*Classic Support & Resistance*
Resistance: 57.60 58.70
Support: 55.66 54.62

*Recommend Trading Plan for the day:*
1. Sell 56.63, stop 56.78, profit 56.48/56.33/56.18.
2. Look for buy signal above 57.60.

*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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