WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 11/6/2019 - Back to previous range after fail to break higher, watch out for weekly stock data

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Publish date: Tue, 11 Jun 2019, 10:47 AM
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11/6/2019
 
*WTI Crude Oil Jul 19*
 
Previous Close: 53.26 -0.73
 
Oil dropped more than 1% yesterday for profit taking. Watch out for API weekly data on 530am tomorrow.
 
Hourly chart showed oil retreated from 50% Fibo retracement level of swing 42.36-66.60, which is around 54.50 and back to previous range, wait for more breakout.
 
 *Classic Support & Resistance* 
Resistance:  54.84 56.24
Support:  52.62 50.60
 
 *Recommend Trading Plan for the day:* 
1. Buy 53.63 for rebound, stop 53.50, profit 53.76/53.89/54.02
2. Look for sell signal below 53
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 3465
Mini Crude : USD 1732.5
 
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