30/10/2019
*WTI Crude Oil Dec 19*
Previous Close: 55.54 -0.27
Oil finished lower yesterday, extending previous losses as pressured by expectations for a rise in US crude inventories and fading optimism over a US-China trade deal. Watch out for EIA weekly data on 1030pm tonight.
Hourly chart once fell to below 55 level and pulled back, close below 54.60 to trigger more correction.
*Classic Support & Resistance*
Resistance: 56 57
Support: 54.60 53.60
*Recommend Trading Plan for the day:*
1. Sell 55.20, stop 55.33, profit 55.07/54.94/54.81
2. Look for sell signal above 56
*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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