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17/5/2019
*WTI Crude Oil Jul 19*
Previous Close: 63.06 +0.97
Please be noted that Jun 19 contract will be expired on next Tue 21/5, traders may choose to trade Jul 19. Oil lifted more than 1% yesterday as tensions in Middle East grew. Watch out for US oil rig count on 1am tomorrow.
Hourly chart showed oil testing 50% Fibo retracement level of swing 66.44-60.10, close above 64 for more upside.
*Classic Support & Resistance*
Resistance: 64.81 66.44
Support: 62.16 60.10
*Recommend Trading Plan for the day:*
1. Buy 63.70, stop 63.58, profit 63.82/63.94/64.06
2. Look for sell signal below 63
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3465
Mini Crude : USD 1732.5
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