16/10/2019
*WTI Crude Oil Nov 19*
Previous Close: 52.88 -0.71
Oil prices fell further yesterday as pressured by weak Chinese data and as market stay cautious over uncertainties of US-China trade deal. Watch out for EIA weekly crude oil stock data on 1030pm tonight.
Hourly chart continue to move in sideway to lower range from 51-55, wait for more breakout.
*Classic Support & Resistance*
Resistance: 53.80 55
Support: 52.30 51
*Recommend Trading Plan for the day:*
1. Buy 53.08, stop 52.95, profit 53.21/53.34/53.47
2. Sell 52.80, stop 52.93, profit 52.67/52.54/52.41
*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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