WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 4/12/2019 - In range 55-57, wait for breakout

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Publish date: Wed, 04 Dec 2019, 10:40 AM
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4/12/2019
 
WTI Crude Oil Jan 20
 
Previous Close: 56.10 +0.14
 
Oil settled slightly higher yesterday as supported by lower than expected weekly crude oil stock, but the gains were limited by weaker stock market. Watch out for EIA weekly data on 11pm tonight.
 
Hourly chart in range 55-57, wait for more breakout.
 
 Classic Support & Resistance 
Resistance: 57.50 58.80
Support: 54.80 53.70
 
 Recommend Trading Plan for the day: 
1. Buy 56.47, stop 56.34, profit 56.6/56.73/56.86
2. Sell 56.29, stop 56.42, profit 56.16/56.03/55.90 
 
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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