CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

Crude Oil

Market Opportunities - 28/09/2021

28 September, 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 opportunity for 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.

Crude Oil weekly uptrend opportunity based On 1.00 Lot Calculation:

  • ENERGY CRISIS IN EUROPE AND THE UK. THERE ARE REPORTS OF AN EMERGING ENERGY CRISIS IN CHINA, TOO: Europe is facing an extreme squeeze for energy supplies, with gas and power prices breaking records day after day. The continent is running out of time to refill storage facilities before the start of the winter as flows from top suppliers Russia and Norway remain limited. In the UK (due to truck driver shortages), at least half of the gas stations outside the motorway network have run out of fuel, the Financial Times reported. BP Plc, the second-largest fuel retailer in the U.K., said it ran out of fuel at a third of its stations and other retailers shut pumps after days of panic buying and television images showed lines of frustrated drivers waiting for the chance to fill up.
  • OIL MARKETS UNDERSUPPLIED: EXPECTED SUPPLY DEFICIT AT LEAST UNTIL THE END OF 2021. An average supply deficit of about 1 million barrels a day will still persist for the rest of the year, according to OPEC+ data. The current crisis could add 500K barrels per day of demand.
  • VACCINATION PROCESS EXPANDS GLOBALLY WITH 6.13 BILLION DOSES BEING ADMINISTERED SO FAR AS THE DELTA WAVE FADES. The expanding vaccination process keeps chances high that more and more countries will reopen, which could increase travelling and therefore fuel consumption could rise. This tends to support oil prices. Meanwhile, COVID-19 cases have started to fall over the past two to three weeks as according to many the delta wave started to fade.
  • ANALYST OPINION: Goldman Sachs Group Inc. said the market’s deficit was larger than expected, and raised its year-end Brent forecast by $10 to $90 a barrel (Crude oil ~$87 a barrel). Citigroup Inc. said it remained “outright bullish” on crude oil as well as gas, according to a commodities outlook.
  • OPEC+ COULD CONTINUE TO ADD 400,000 BARRELS PER DAY IN THE MONTHS AHEAD. Next meeting will take place on October 4.

Crude Oil, September 28, 2021
Current Price: 75.900

Crude Oil

Weekly

Trend direction

UP

Resistance 3

88.00

Resistance 2

84.00

Resistance 1

80.00

Support 1

72.00

Support 2

70.50

Support 3

69.00

Example of calculation base on weekly trend direction for 1.00 Lot*

Crude Oil

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

12,100.00

8,100.00

4,100.00

-3,900.00

-5,400.00

-6,900.00

Profit or loss in €**

10,353.65

6,930.96

3,508.26

-3,337.13

-4,620.64

-5,904.15

Profit or loss in £**

8,849.88

5,924.30

2,998.72

-2,852.44

-3,949.53

-5,046.63

Profit or loss in C$**

15,286.54

10,233.14

5,179.73

-4,927.07

-6,822.09

-8,717.12

* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 09:11 (GMT+1) 28/09/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. 80% 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.