WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 4/3/2019 - Enter range 55-58, wait for breakout.

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Publish date: Mon, 04 Mar 2019, 10:38 AM
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4/3/2019

 
*WTI Crude Oil Apr 19*
 
Previous Close: 55.80 -1.42
 
WTI fell around 2% on last Friday as concerns over global demand growth after weak US manufacturing data.
 
Hourly chart showed oil entered a range 55-58, wait for breakout. Aggressive traders may apply range trading setup in 55-58.
 
 *Classic Support & Resistance* 
Resistance: 56.67 57.88
Support: 55.02 54.24
 
 *Recommend Trading Plan for the day:* 
1. Buy 56.31 for technical rebound, stop 56.19, profit 56.43/56.55/56.67.
2. Sell 55.56, stop 55.68, profit 55.44/55.32/55.20.
 
*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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