WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 25/7/2019 - Drag down by weaker stock market but big draw in crude stock likely limit its downside

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Publish date: Thu, 25 Jul 2019, 10:22 AM
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25/7/2019
 
*WTI Crude Oil Sep 19*
 
Previous Close: 55.88 -0.89
 
WTI declined more than 1% yesterday despite a big draw in crude inventories, as pressured by weaker US stock market.
 
4H chart showed WTI move in between 38.2-61.8 Fibo retreacement level of swing 50.60-60.90, close above 57.50 to trigger more rebound signal.
 
 *Classic Support & Resistance* 
Resistance:  57 58.40
Support:  54.70 53.30
 
 *Recommend Trading Plan for the day:* 
1. Buy 56.10 for rebound, stop 55.97, profit 56.23/56.36/56.49
2. Sell 55.85, stop 55.98, profit 55.72/55.59/55.46
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4015
Mini Crude : USD 2007.50
 
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