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.

Crude oil price is falling -1.4%

Fast Moving Market - 24/06/2021

24 June, 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 is falling -1.4%. Oil prices are falling this afternoon as investors lock in profits after its rise this week.

Possible Scenarios:

If Crude oil fails to breach through S1 of 72.277, our Research Department expects the Crude oil to undergo a short-term upward correction.

If Crude oil manages to break below its S1 of 72.277, our Research Department expects the Crude oil to extend its losses to its S2 of 71.713.

Support and Resistance Levels:

Crude oil

S3

S2

S1

Reference Price

R1

R2

R3

71.148

71.713

72.277

73.030

73.783

74.347

74.912

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €83.71

(+/-) £71.87

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.19464
***GBP/USD = 1.39136
Calculations for exchange rate used as of 13:35 (GMT+1) 24/06/2021

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