WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 21/6/2019 - Strong breakout from sideway, close above 58 for more upside

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Publish date: Fri, 21 Jun 2019, 10:33 AM
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21/6/2019
 
WTI Crude Oil Aug 19
 
Previous Close: 57.07 +3.1
 
WTI soared more than 5% yesterday after Iran shot down a US military drone, raising fears of geopolitical tension. Watch out for US oil rig count at 1am tomorrow.
 
4H chart indicated a strong breakout from previous sideway and hit near 1 month high, may continue rebound but be cautious as RSI in overbought.
 
 Classic Support & Resistance 
Resistance:  57.79 59.70
Support:  56.63 55.24
 
 Recommend Trading Plan for the day: 
1. Buy 57.80, stop 57.67, profit 57.93/58.06/58.19
2. Sell 57.22 for technical correction, stop 57.35, profit 57.09/56.96/56.83
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 3795
Mini Crude : USD 1897.5
 
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