WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 19/11/2019 - Back to previous range, 56-58 wait for breakout

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Publish date: Tue, 19 Nov 2019, 11:08 AM
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19/11/2019

 
*WTI Crude Oil Jan 20*
 
Previous Close: 57.83 -0.69
 
Oil prices fell more than 1% yesterday, erasing last week’s gains and tumbling alongside US stocks on uncertainty over a trade deal between the US and China.
 
Hourly chart back into previous range, 56-58 wait for breakout.
 
 *Classic Support & Resistance* 
Resistance: 57.60 58.20
Support: 56.40 55.70
 
 *Recommend Trading Plan for the day:* 
1. Buy 57.16, stop 57.03, profit 57.29/57.42/57.55
2. Sell 56.86, stop 56.99, profit 56.73/56.6/56.47
 
*WTI Oil Margin Requirement (per lot)* 
WTI Crude : USD 4400
Mini Crude : USD 2200
 
Disclaimer: For idea sharing only, trade at your own risk
 
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