WTI Crude Oil Updates

Daily Futures Commentaries: [WTI Crude Oil] 24/12/2019 - Testing technical correction, below 60 for more downside

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Publish date: Tue, 24 Dec 2019, 10:38 AM
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24/12/2019
 
*WTI Crude Oil Feb 20*
 
Previous Close: 60.52 +0.08
 
Oil prices were little changed yesterday as Russia said an OPEC may consider easing output cuts next year. Watch out for API weekly crude oil stock data on 530am tomorrow.
 
Hourly chart testing technical correction, close below 60 to trigger more downside.
 
 *Classic Support & Resistance* 
Resistance: 60.80 61.40
Support: 60 59.70
 
 *Recommend Trading Plan for the day:* 
1. Sell 60.50, stop 60.63, profit 60.37/60.24/60.11
2. Buy 60.78, stop 60.65, profit 60.91/61.04/61.17
 
*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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