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3/6/2019
*WTI Crude Oil Jul 19*
Previous Close: 53.5 -3.05
Oil slumped over 3% on last Friday after US threatening tariffs on Mexico, a key US trade partner and major supplier of crude oil.
Daily chart triggered a breakdown from head & shoulder bearish pattern, close below 52 to trigger more downside.
*Classic Support & Resistance*
Resistance: 56.61 59.70
Support: 50.38 48.11
*Recommend Trading Plan for the day:*
1. Sell 52.60, stop 52.73, profit 52.47/52.34
2. Look for sell signal below 52.12
3. Look for rebound buy signal above 53.43
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3465
Mini Crude : USD 1732.5
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