17/12/2019
*WTI Crude Oil Feb 20*
Previous Close: 60.16 +0.18
Oil prices settled slightly higher yesterday on hopes energy demand will benefit from the trade deal between the US and China announced last week. Watch out for API weekly crude oil stock data on 530am tomorrow.
Hourly chart formed a sideway to higher trend, close above 60.40 for more upside.
*Classic Support & Resistance*
Resistance: 60.40 61
Support: 59.60 59
*Recommend Trading Plan for the day:*
1. Sell 60, stop 60.13, profit 59.87/59.74/59.61
2. Buy 60.30, stop 60.17, profit 60.43/60.56/60.69
*WTI Oil Margin Requirement (per lot)*
WTI Crude : USD 4125
Mini Crude : USD 2062.50
Disclaimer: For idea sharing only, trade at your own risk
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