WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 18/12/2019 - Watch out for weekly stock data

InvestorsDoctor
Publish date: Wed, 18 Dec 2019, 10:29 AM
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18/12/2019
 
*WTI Crude Oil Feb 20*
 
Previous Close: 60.87 +0.71
 
Oil edged further above 60 yesterday as supported by hopes that the US.-China trade deal will bolster oil demand in 2020, but gains were limited by surprise build in API weekly crude oil stock. Watch out for EIA weekly data on 1130pm tonight. 
 
Hourly chart formed higher highs & lows, more to bullish, close above 61 for more upside.
 
 *Classic Support & Resistance* 
Resistance: 61 62
Support: 60 59
 
 *Recommend Trading Plan for the day:* 
1. Sell 60.40, stop 60.53, profit 60.27/60.14/60.01
2. Buy 60.60, stop 60.47, profit 60.73/60.86/60.99
 
*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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