1/11/2019
*WTI Crude Oil Dec 19*
Previous Close: 54.18 -0.88
Oil ended lower to test 54 level yesterday as pressured by profit taking in stock market, rising US crude oil inventories and weak factory activity in China.
Hourly chart formed lower low but pull back from RSI bullish divergence, close below 53.70 for more downside.
*Classic Support & Resistance*
Resistance: 56 57
Support: 52.40 51
*Recommend Trading Plan for the day:*
1. Buy 54.35, stop 54.22, profit 54.48/54.61/54.74
2. Sell 54.06, stop 54.19, profit 53.93/53.80/53.67
*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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