Crude Oil weekly uptrend opportunity based On 1.00 Lot Calculation:
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GEOPOLITICS (RUSSIA- UKRAINE WAR): President Vladimir Putin announced an attack on Ukraine on February 24, days after he recognized two breakaway regions of Russia’s neighbor as independent. Attacks are occurring in Kyiv, Odessa, Mariupol and other locations in Ukraine. Russia is among the three largest oil producer in the world along with the USA and Saudi Arabia, providing more than 40% of energy needs to Europe.
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EVENT: OPEC+ MEETING (March 2, Wednesday at 12:30 GMT). OPEC+ FAILS TO INCREASE OIL SUPPLY ACCORDING TO ITS POLICY DUE TO LACK OF CAPACITY. Evidence continues to mount that OPEC and Russia don't have the capacity to continue to add 400k bpd each month. They have not invested enough in oil maintenance capex for a number of years. With stronger demand coming, this situation could lead to a structural undersupply going forward.
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ANALYST OPINION: OIL PRICES EXPECTED TO STAY ABOVE THE $100 MARK. JPMorgan sees Oil at $125 in 2022 and $150 in 2023 (due to capacity-led shortfalls in OPEC+ production). Bank of America sees Oil at $120 by the end of June 2022. Goldman Sachs says Oil will hit $115 in 2022.
Crude Oil, March 2, 2022
Current Price: 107
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Crude Oil |
Weekly |
|
Trend direction |
|
|
150 |
|
|
137 |
|
|
125 |
|
|
95 |
|
|
92 |
|
|
90 |
Example of calculation base on weekly trend direction for 1.00 Lot1
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Crude Oil |
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|
Pivot Points |
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|
Profit or loss in $ |
43,000.00 |
30,000.00 |
18,000.00 |
-12,000.00 |
-15,000.00 |
-17,000.00 |
|
Profit or loss in €2 |
38,755.15 |
27,038.48 |
16,223.09 |
-10,815.39 |
-13,519.24 |
-15,321.80 |
|
Profit or loss in £2 |
32,338.12 |
22,561.48 |
13,536.89 |
-9,024.59 |
-11,280.74 |
-12,784.84 |
|
Profit or loss in C$2 |
54,694.28 |
38,158.80 |
22,895.28 |
-15,263.52 |
-19,079.40 |
-21,623.32 |
1. 1.00 lot is equivalent of 1000 units
2. Calculations for exchange rate used as of 08:45 (GMT) 02/03/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Client Manager for more detail