10/9/2019
*WTI Crude Oil Oct 19*
Previous Close: 57.85 +1.12
Oil prices rose more than 2% yesterday after the new Saudi energy minister confirmed expectations that he would stick with his country’s policy of limiting crude output to support prices. Watch out for API weekly data on 430am tomorrow.
4H chart testing breakout from double bottom bullish chart pattern, hit its highest since end of Jul 19, close above 60 for more upside, but be cautious as RSI approaching overbought.
*Classic Support & Resistance*
Resistance: 58.80 61
Support: 56.60 54.80
*Recommend Trading Plan for the day:*
1. Buy 58.40, stop 58.27, profit 58.53/58.66/58.79
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4015
Mini Crude : USD 2007.50
Disclaimer: For idea sharing only, trade at your own risk
Join us to discuss & trade together FKLI, FCPO, WTI Crude Oil, Comex Gold, Mini Dow Jones etc Futures markets !!!
Please SHARE & SUBSCRIBE our YOUTUBE channel for latest FREE futures trading videos !!!
https://www.youtube.com/channel/UCnOB_UmIXe3OTE2SgiK9kpg
Join our FREE channels to find out more on futures trading !!!
Telegram link:
https://t.me/investorsdoctoracademy
Facebook link:
https://www.facebook.com/investorsdoctoracademy
Or reach out to our contact number IDA Investors Doctor Academy
+601153537589