WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 24/5/2019 - Testing Fibo level, watch out for potential rebound

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Publish date: Fri, 24 May 2019, 11:15 AM
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24/5/2019
 
*WTI Crude Oil Jul 19*
 
Previous Close: 57.91 -3.13
 
Oil prices tumbled about 5% as trade tensions dampened oil demand outlook. Watch out for oil rig count on 1am tomorrow.
 
Daily chart hit more than 2 month low, testing 61.8 Fibo retracement level, close below 57.3 may test 38.2-50 Fibo level.
 
 *Classic Support & Resistance* 
Resistance:  61.56 63.78
Support:  57.33 54.52
 
 *Recommend Trading Plan for the day:* 
1. Buy 58.70, stop 58.55, profit 58.85/59/59.15
2. Look for sell signal below 58
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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