WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/10/2019 - Oil stock increase, likely to limit upside of oil prices

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Publish date: Fri, 18 Oct 2019, 10:14 AM
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18/10/2019
 
*WTI Crude Oil Dec 19*
 
Previous Close: 54.03 +0.58
 
Oil rose more than 1% yesterday despite EIA reported increase in weekly oil stock.
 
Hourly chart continue to move in sideway to lower range from 50-55, wait for more breakout.
 
 *Classic Support & Resistance* 
Resistance: 55 57
Support: 52.50 51
 
 *Recommend Trading Plan for the day:* 
1. Buy 54.27, stop 54.14, profit 54.4/54.53/54.66
2. Sell 53.90, stop 54.03, profit 53.77/53.64/53.51
 
*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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