WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 13/6/2019 - Fell to lowest since Jan 2019, below 50 for more downside

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Publish date: Thu, 13 Jun 2019, 10:06 AM
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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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