WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 30/10/2019 - Watch out for EIA weekly data

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Publish date: Wed, 30 Oct 2019, 11:32 AM
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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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