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 -2.1%

Fast Moving Market - 01/04/2021

01 April, 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 -2.1%. Oil prices are falling ahead of today’s OPEC+ meeting. While the consensus forecast is that production levels will be unchanged for May, there is talk that they may introduce a plan to scale up production in the future.

Possible Scenarios:

If Crude oil fails to breach through S1 of 58.762, our Research Department expects the Crude oil to undergo a short- term upward correction.

If Crude oil manages to break below its S1 of 58.762, our Research Department expects the Crude oil to extend its losses to its S2 of 57.96

Support and Resistance Levels:

Crude oil

S3

S2

S1

Reference Price

R1

R2

R3

57.158

57.960

58.761

59.830

60.899

61.700

62.502

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*

USD

EUR**

GBP***

(+/-)100$

(+/-)85.2€

(+/-)72.56£

*1 trading lot is equivalent of 1000 units
** EUR/USD = 1.17372
*** GBP/USD = 1.37826
Calculations for exchange rate used as of 12:54 (GMT+1) 01/04/2021

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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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