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17/7/2019
*WTI Crude Oil Aug 19*
Previous Close: 57.62 -1.96
Oil dropped more than 3% yesterday after API weekly report showed lower than expected withdraw in stock. Watch out for EIA weekly data on 1030pm tonight.
Hourly chart showed a sharp retracement and now testing rebound from RSI oversold, below 56 for more downside.
*Classic Support & Resistance*
Resistance: 60 61
Support: 56 54.50
*Recommend Trading Plan for the day:*
1. Sell 57.06, stop 57.19, profit 56.93/56.80/56.67
2. Buy 58.10, stop 57.97, profit 58.23/58.36/58.49
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.50
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