WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 9/8/2019 - Testing rebound, above 53 for more upside

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Publish date: Fri, 09 Aug 2019, 10:28 AM
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9/8/2019
 
*WTI Crude Oil Sep 19*
 
Previous Close: 52.54 +1.45
 
WTI jumped more than 2% yesterday on expectations that falling prices could lead to more production cuts, coupled with a steadying of the yuan currency.
 
Hourly chart recovered from low and entered sideway, close above 53 to trigger more upside.
 
 *Classic Support & Resistance* 
Resistance: 53.80 56
Support: 50.50 49
 
 *Recommend Trading Plan for the day:* 
1. Buy 53.07, stop 52.94, profit 53.2/53.33/53.46
2. Look for sell signal below 52
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4015
Mini Crude : USD 2007.50
 
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