WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 31/7/2019 - Testing rebound, watch out for weekly stock data

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Publish date: Wed, 31 Jul 2019, 11:11 AM
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31/7/2019
 
WTI Crude Oil Sep 19
 
Previous Close: 58.05 +1.18
 
WTI jumped more than 1% yesterday despite API reported below than expected crude oil stock draw. Watch out for EIA weekly data on 1030pm tonight.
 
4H chart showed WTI move in between 54-61, wait for more breakout.
 
 Classic Support & Resistance 
Resistance: 61 62
Support: 57 54.70 
 
 Recommend Trading Plan for the day: 
1. Buy 58.50, stop 58.37, profit 58.63/58.76/58.89
2. Sell 57.97 for technical correction, stop 58.10, profit 57.84/57.71/57.58
 
WTI Oil Margin Requirement (per lot) 
WTI Crude : USD 4015
Mini Crude : USD 2007.50
 
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