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13/6/2019
*WTI Crude Oil Jul 19*
Previous Close: 51.14 -2.13
Oil prices tumbled 4% yesterday to its lowest in nearly 5 months as pressured by bearish weekly crude oil stock data.
Daily chart showed crude oil retest 38.2 Fibo retracement level of swing 42.36-66.60, close below 50 to trigger more downside.
*Classic Support & Resistance*
Resistance: 52.39 54.04 54.84
Support: 51.29 50.60 48.11
*Recommend Trading Plan for the day:*
1. Sell 51.02, stop 51.15, profit 50.89/50.76/50.63
2. Buy 51.38 for technical rebound, stop 51.25, profit 51.51/51.64/51.77
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 3465
Mini Crude : USD 1732.5
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