19/9/2019
*WTI Crude Oil Nov 19*
Previous Close: 58.04 -1.06
Oil prices retreated yesterdat, extending the decline in the previous session after President Donald Trump said he ordered the Treasury Department to “substantially increase” sanctions on Iran, furthermore pressured by stock build in EIA weekly data.
Hourly chart continue to test downside gap, below 57 to trigger more downside.
*Classic Support & Resistance*
Resistance: 59.30 63.10
Support: 57.60 53.90
*Recommend Trading Plan for the day:*
1. Sell 57.57, stop 57.70, profit 57.44/57.31/57.18
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4785
Mini Crude : USD 2392.50
Disclaimer: For idea sharing only, trade at your own risk
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