WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 25/9/2019 - Test to clsoe downside gap, watch out for EIA weekly data

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Publish date: Wed, 25 Sep 2019, 11:21 AM
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25/9/2019
 
*WTI Crude Oil Nov 19*
 
Previous Close: 57.29 -1.35
 
Oil prices fell 2% yesterday as US President Donald Trump sharply criticized what he called China’s unfair trade practices in a speech, saying he would not accept a “bad deal” between the US and China. Watch out for EIA weekly data on 1030pm tonight.
 
Hourly formed lower highs & lows to test downside gap but be cautious as RSI in oversold now.
 
 *Classic Support & Resistance* 
Resistance: 59.5 60.70
Support: 54 52.80
 
 *Recommend Trading Plan for the day:* 
1. Sell 56.66, stop 56.79, profit 56.53/56.4/56.27
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4950 
Mini Crude : USD 2475
 
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