29/10/2019
WTI Crude Oil Dec 19
Previous Close: 55.81 -0.85
Oil prices eased yesterday after 4 days of gains as worries about weak Chinese industrial data offset hopes oil demand will rise as talks progress on a Sino-American trade deal.
Hourly chart failed to hold above 57 level, close below 55 to trigger more downside
Classic Support & Resistance
Resistance: 57 58
Support: 55 53.60
Recommend Trading Plan for the day:
1. Sell 55.40, stop 55.53, profit 55.27/55.14/55.01
2. Buy 55.89, stop 55.76, profit 56.02/56.15/56.28
WTI Oil Margin Requirement (per lot)
WTI Crude : USD 4785
Mini Crude : USD 2392.50
Disclaimer: For idea sharing only, trade at your own risk
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