15/8/2019
*WTI Crude Oil Sep 19*
Previous Close: 55.23 -1.87
Oil prices sank 3% yesterday after disappointing economic data from China and Europe revived global demand fears and US crude inventories rose unexpectedly for the 2nd week in a row.
Hourly chart showed a retracement from high of around 57.50, close below 53.50 to trigger more downside.
*Classic Support & Resistance*
Resistance: 55.50 57.50
Support: 53.50 52
*Recommend Trading Plan for the day:*
1. Sell 54.69, stop 54.82, profit 54.56/54.43/54.30
2. Buy 55.64, stop 55.51, profit 55.77/55.90/56.03
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.50
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