WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 21/11/2019 - Bounced back on lower than expected EIA weekly crude oil stock

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Publish date: Thu, 21 Nov 2019, 10:48 AM
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21/11/2019

 
*WTI Crude Oil Jan 20*
 
Previous Close: 57.01 +1.66
 
Oil pulled back strongly from previous losses after EIA reported a below expectation's weekly crude oil stock. 
 
Hourly chart back to previous range, 54.80 or 58.2 wait for breakout.
 
 *Classic Support & Resistance* 
Resistance: 58.20 59.50
Support: 54.80 53.70
 
 *Recommend Trading Plan for the day:* 
1. Sell 56.74, stop 56.87, profit 56.61/56.48/56.35
2. Buy 57.40, stop 57.27, profit 57.53/57.66/57.79
 
*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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