12/9/2019
*WTI Crude Oil Oct 19*
Previous Close: 55.75 -1.65
Oil dropped more than 2% yesterday despite bullish EIA weekly data after Bloomberg News reported that President Donald Trump discussed easing sanctions on Iran in order to reopen negotiations.
Hourly chart entered technical correction and testing rebound from RSI oversold zone now.
*Classic Support & Resistance*
Resistance: 57.50 58.80
Support: 54.80 53.80
*Recommend Trading Plan for the day:*
1. Buy 56.34 for rebound, stop 56.21, profit 56.47/56.60/56.73
*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
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