WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 2/8/2019 - Sharp fall after another round of tariff and test oversold rebound now

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Publish date: Fri, 02 Aug 2019, 11:05 AM
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2/8/2019
 
*WTI Crude Oil Sep 19*
 
Previous Close: 53.95 -4.63
 
Oil plunges the most in 4 years after Trump's new China tariffs raise fears of a global slowdown.
 
Hourly chart testing for rebound from RSI oversold, close below 54 to trigger more downside.
 
 *Classic Support & Resistance* 
Resistance: 57 59
Support: 53 51
 
 *Recommend Trading Plan for the day:* 
1. Buy 55 for rebound, stop 54.87, profit 55.13/55.26/55.39
2. Sell 54.70, stop 54.83, profit 54.57/54.44/54.31
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4015
Mini Crude : USD 2007.50
 
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