11/7/2019
*WTI Crude Oil Aug 19*
Previous Close: 60.43 +2.6
Oil prices gained more than 4% a barrel yesterday after EIA & API reported inventories shrank more than expected, furthermore supported by bullish stock market.
Daily chart showed crude oil testing 61.8 Fibo retracement level of swing 66.60-50.60, close above that level to trigger more upside, but be cautious as RSI in overbought in shorter time frame.
*Classic Support & Resistance*
Resistance: 61.27 63.81
Support: 58.35 56.04
*Recommend Trading Plan for the day:*
1. Buy 60.71, stop 60.58, profit 60.84/60.97/61.10
2. Sell 60.37 for technical correction, stop 60.50, profit 60.24/60.11/59.98
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.50
Join us to discuss & trade together FKLI, FCPO, WTI Crude Oil, Comex Gold, Mini Dow Jones etc Futures markets !!!
Please SHARE & SUBSCRIBE our YOUTUBE channel for latest FREE futures trading videos !!!
https://www.youtube.com/channel/UCnOB_UmIXe3OTE2SgiK9kpg
Join our FREE channels to find out more on futures trading !!!
Telegram link:
https://t.me/investorsdoctoracademy
Facebook link:
https://www.facebook.com/investorsdoctoracademy
Or reach out to our contact number IDA Investors Doctor Academy
+601153537589