Crude oil price is falling -2.3%

Fast Moving Market - 30/05/2023

30 May, 2023

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 -2.3%. Oil prices are falling in part due to a stronger US Dollar ahead of this weekend’s OPEC+ meeting.

Possible Scenarios:

if Crude oil fails to breach through S1 of 71.331, our Research Department expects the Crude oil to undergo a short- term upward correction.

If Crude oil manages to break below its S1 of 71.331, our Research Department expects the Crude oil to extend its losses to its S2 of 70.716

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	70.102	70.716	71.331	72.150	72.969	73.584	74.198

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*			USD	EUR**	GBP***
10 cents per 1 trading lot*			(+/-) $100	(+/-) €93.43	(+/-) £80.82

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.07035
***GBP/USD = 1.23725
Calculations for exchange rate used as of Tuesday, May 30, 2023, 09:54 AM (GMT+1)

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