8/10/2019
*WTI Crude Oil Nov 19*
Previous Close: 52.75 -0.06
Oil move in tight range yesterday as market focus on more result of US-China renewed trade talk. Watch out for API weekly crude oil stock data on 430am tomorrow.
Hourly chart formed an inverted head & shoulder bullish chart pattern to test rebound, close above 54 to trigger more downside,
*Classic Support & Resistance*
Resistance: 54 55
Support: 52 51
*Recommend Trading Plan for the day:*
1. Buy 53.08, stop 52.95, profit 53.21/53.34/53.47
2. Sell 52.98, stop 53.11, profit 52.85/52.72/52.59
*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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