WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 31/10/2019 - Enter range 54-56, wait for breakout

InvestorsDoctor
Publish date: Thu, 31 Oct 2019, 12:03 PM
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31/10/2019
 
*WTI Crude Oil Dec 19*
 
Previous Close: 55.06 -0.48
 
Oil extended its losses yesterday on larger than expected weekly crude oil stock build as reported by EIA. 
 
Hourly chart formed lower low but pull back from RSI bullish divergence, may enter range 54-56, wait for more breakout.
 
 *Classic Support & Resistance* 
Resistance: 56 57
Support: 54.40 53.60
 
 *Recommend Trading Plan for the day:* 
1. Buy 55.28, stop 55.15, profit 55.41/55.54/55.67
2. Sell 54.86, stop 54.99, profit 57.73/57.6/57.47
 
*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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