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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