WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 16/10/2019 - Watch out for weekly oil stock data

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Publish date: Wed, 16 Oct 2019, 10:56 AM
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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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