WTI Crude Oil Updates
Daily Futures Commentaries: [WTI Crude Oil] 2/7/2019 - More to bullish but testing for short term technical correction now
InvestorsDoctor
Publish date: Tue, 02 Jul 2019, 10:53 AM
InvestorsDoctor
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2/7/2019
*WTI Crude Oil Aug 19*
Previous Close: 59.09 +0.62
WTI erased part of its gains yesterday as concerns on demand outlook offset extension of OPEC+ supply cut to 9 months. Watch out for API weekly crude oil stock at 430am tomorrow.
Hourly chart formed a technical correction from higher highs & lows, trend is more to bullish.
*Classic Support & Resistance*
Resistance: 59.31 60.28
Support: 58.34 57.75
*Recommend Trading Plan for the day:*
1. Look for buy signal above 59.30
2. Look for sell signal below 58.30
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.50
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