12/6/2019
*WTI Crude Oil Jul 19*
Previous Close: 53.27 +0.01
Oil prices moved in flat range last night, but higher than expected API weekly inventories built likely to limit its upside. Watch out for EIA weekly data tonight on 1030pm.
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. Wait for more breakout signal
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3465
Mini Crude : USD 1732.5
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