1/10/2019
*WTI Crude Oil Nov 19*
Previous Close: 54.07 -1.84
Oil fell on yesterday as China’s economic outlook remained weak amid an ongoing trade war with US and market fears of supply shortfalls and conflicts in the Middle East after the attack on Saudi Arabia faded.
Hourly chart formed lower highs & lows, more to bearish, close below 54 for more downside.
*Classic Support & Resistance*
Resistance: 55.6 57
Support: 52.80 51.90
*Recommend Trading Plan for the day:*
1. Sell 54, stop 54.13, profit 53.87/53.74/53.61
2. Buy 54.55 for rebound, stop 54.42, profit 54.68/54.81/54.94
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4950
Mini Crude : USD 2475
Disclaimer: For idea sharing only, trade at your own risk
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