CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Crude oil price increased 1.9%

Fast Moving Market - 05/01/2021

05 January, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Crude oil price increased 1.9%. Oil prices are rallying today after yesterday’s fears of a production increase in February are so far nothing but rumors.

Possible Scenarios:

If Crude oil fails to breach through R2 of 48.413, our Research Department expects the Crude oil to undergo a short-term downward correction.

If Crude oil manages to break above its R2 of 48.413, our Research Department expects the Crude oil to extend its gains to its R3 of 48.804.

Support and Resistance Levels:

Crude oil

S3

S2

S1

Reference Price

R1

R2

R3

46.196

46.587

46.978

47.500

48.022

48.413

48.804

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €81.41

(+/-) £73.54

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.22832
***GBP/USD = 1.35986
Calculations for exchange rate used as of 11:30 (GMT) 05/01/2021

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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