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8/5/2019
*WTI Crude Oil Jun 19*
Previous Close: 61.4 -0.85
Crude oil settled at more than 1 month low yesterday as weighed down by weak stock market, despite a less than expected weekly crude oil stock, reported by API. Continue to watch out for EIA weekly data on 1030pm tonight.
Hourly chart showed crude oil entered a range 60-63, wait for breakout, while overall in correction stage.
*Classic Support & Resistance*
Resistance: 62.95 63.93
Support: 60.66 60.04
*Recommend Trading Plan for the day:*
1. If price retreat 1st, buy 61.74, stop 61.59, profit 51.89/62.04/62.19
2. Buy 61.96, stop 61.81, profit 62.11/62.26/62.41
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3465
Mini Crude : USD 1732.5
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