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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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