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 is falling -0.9%

Fast Moving Market - 20/03/2024

20 March, 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 declined 0.9% just ahead of weekly EIA inventories data.

Possible Scenarios:

If CRUDE OIL fails to breach through S2 of 80.857, our Research Department expects the CRUDE OIL to undergo a short- term upward correction.

If CRUDE OIL manages to break below its S2 of 80.857, our Research Department expects the CRUDE OIL to extend its losses to its S3 of 80.372

Support and Resistance Levels:

CRUDE OIL

S3

S2

S1

Reference Price

R1

R2

R3

80.372

80.857

81.343

81.990

82.637

83.123

83.608

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €92.22

(+/-) £78.78

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.08440
***GBP/USD = 1.26934
Calculations for exchange rate used as of Wednesday, March 20, 2024, 14:08: AM

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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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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