WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 17/10/2019 - Oil stock increase, likely to limit upside of oil prices

InvestorsDoctor
Publish date: Thu, 17 Oct 2019, 10:49 AM
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17/10/2019
 
*WTI Crude Oil Nov 19*
 
Previous Close: 53.36 +0.48
 
Oil settled higher yesterday but increasing weekly oil inventories as reported by API likely limit upside of oil prices. Watch out for EIA weekly stock data on 11pm 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: 52.40 51
 
 *Recommend Trading Plan for the day:* 
1. Buy 53.07, stop 52.94, profit 53.20/53.33/53.46
2. Sell 52.75, stop 52.88, profit 52.62/52.49/52.36
 
*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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