WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 15/5/2019 - Mixed outlook, watch out for EIA weekly data

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Publish date: Wed, 15 May 2019, 10:51 AM
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15/5/2019
 
*WTI Crude Oil Jun 19*
 
Previous Close: 61.78 +0.74
 
Please be noted that Jun 19 contract will be expired on next Tue 21/5, traders may choose to trade Jul 19. Oil prices rose over 1% yesterday as more to bullish OPEC monthly report and recovery in stock market outweighed more than expected inventory build, stated in API weekly data.
 
Hourly chart formed a false breakout again and back into previous range, wait for more breakout. 
 
 *Classic Support & Resistance* 
Resistance:  63.33 64.75
Support:  60.04 57.74 
 
 *Recommend Trading Plan for the day:* 
1. Buy 61.62, stop 61.5, profit 61.74/61.86/61.98
2. Sell 61.10, stop 61.22, profit 60.98/60.86/60.74
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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