![](/files/my/blog/img/bl3944_cl180319.png)
18/3/2019
*WTI Crude Oil May 19*
Previous Close: 58.82 -0.02
Crude oil ended in flat on last Friday after IEA reported a lower production and remain its global oil demand growth for this year.
Hourly chart formed higher highs & lows, more to bullish, entering consolidation now before it break above 50% Fibo retracement level of swing 76.72-42.67, wait for breakout.
*Classic Support & Resistance*
Resistance: 59.25 61.44
Support: 58.03 57.08
*Recommend Trading Plan for the day:*
1. Sell 58.65 for technical correction, stop 58.79, profit 58.51/58.37/58.23.
2. Buy 58.94, stop 58.80, profit 59.08/59.22.
*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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