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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