WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 5/3/2019 - Enter range 55-58, wait for breakout.

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Publish date: Tue, 05 Mar 2019, 11:04 AM
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5/3/2019

 
*WTI Crude Oil Apr 19*
 
Previous Close: 56.59 +0.79
 
Crude oil rebounded more than 1% last night as US & China appeared closer to end a trade war that has slowed global economic growth.
 
Hourly chart showed oil remain in sideway, wait for breakout. Aggressive traders may apply range trading setup in 55-58.
 
 *Classic Support & Resistance* 
Resistance: 57 57.88
Support: 55.57 55.02
 
 *Recommend Trading Plan for the day:* 
1. Buy 56.64, stop 56.53, profit 56.75/56.86.
2. Sell 56.24, stop 56.35, profit 56.13/56.02.
 
*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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