CRUDE OIL price is falling -0.8%

Fast Moving Market - 18/04/2024

18 April, 2024

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 is falling -0.8% . Crude oil weighed down by signs that US oil supply remains robust, while demand concerns grow.

Possible Scenarios:

If CRUDE OIL fails to breach through S2 of 80.883, our Research Department expects the CRUDE OIL to undergo a short- term upward correction.

If CRUDE OIL manages to break below its S2 of 80.883, our Research Department expects the CRUDE OIL to extend its losses to its S3 of 80.258.

Support and Resistance Levels:

CRUDE OIL	S3	S2	S1	Reference Price	R1	R2	R3
CRUDE OIL	80.258	80.883	81.507	82.340	83.173	83.797	84.422

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*			USD	EUR**	GBP***
10 cents per 1 trading lot*			(+/-) $100	(+/-) €93.64	(+/-) £80.18

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.06795
***GBP/USD = 1.24712
Calculations for exchange rate used as of Thursday, April 18, 2024, 10:20: AM

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