Crude oil prices increased 1.7%

Fast Moving Market - 29/09/2023

29 September, 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 prices increased 1.7%. Crude oil prices increased as markets still hold weight on the supply cuts.

Possible Scenarios:

If Crude oil fails to breach through R1 of 93.676, our Research Department expects the Crude oil to undergo a short- term downward correction.

If Crude oil manages to break above its R1 of 93.676, our Research Department expects the Crude oil to extend its gains to its R2 of 94.490.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	89.876	90.690	91.504	92.590	93.676	94.490	95.304

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*			USD	EUR**	GBP***
10 cents per 1 trading lot*			(+/-) $100	(+/-) €94.41	(+/-) £81.6

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.05920
***GBP/USD = 1.22550
Calculations for exchange rate used as of Friday, September 29, 2023 GMT+1, 13:00: PM

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