CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. 77% 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

Market Opportunities - 25/04/2022

25 April, 2022

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:

  • GEOPOLITICS (RUSSIA- UKRAINE WAR): President Vladimir Putin announced an attack on Ukraine on February 24, days after he recognized two breakaway regions of Russia’s neighbor as independent. Attacks are occurring in Kyiv, Odessa, Mariupol and other locations in Ukraine. Russia is among the three largest oil producer in the world along with the USA and Saudi Arabia, providing more than 40% of energy needs to Europe.

  • RUSSIA OIL PRODUCTION DOWN AROUND 10% SO FAR IN APRIL FROM MARCH: According to Bloomberg, from April 1 to 19, Russia produced 10.11 million barrels a day, DOWN from March’s average of 11.01 million barrels a day.

  • EXPECTED: 6TH ROUND OF E.U. SANCTIONS AGAINST RUSSIA. The EU Commission will probably make proposals for a sixth package of sanctions to the member states this week, Die Welt said. The source said the European Union is preparing “smart sanctions” against Russia. Those sanctions could include a gradual phasing-out of Russian oil or imposing tariffs on exports beyond a certain price cap.

  • BREAKING (MARCH 31): Russia President Putin signed a decree demanding ruble-payment for gas. The proposed scheme requires the mandatory opening of accounts in Russian rubles in a Russian bank by a foreign buyer of Russian gas, a government source said. President Putin said that the taps will be turned off for those who don't make the payments in rubles. Russia officials said they are considering to add other products to the list including Crude Oil, which could provide a boost to Oil prices.

  • OPEC+ MEETING (MAY 5, THURSDAY). The alliance has been raising output by 400,000 barrels per day (bpd) each month since August to unwind cuts made when the COVID-19 pandemic hit demand. The Group has indicated little chance the grouping will decide to raise oil output at a faster pace.

  • ANALYST OPINION: OIL PRICES EXPECTED TO STAY ABOVE THE $100 MARK. JPMorgan sees oil at $185 at the end of the year. Bank of America sees oil at $130 in the second quarter. Goldman Sachs predicts oil at $135 a barrel. Barclays said prices in its worst case scenario could top $200 a barrel. Meanwhile, Russia said that if the situation further escalates in Ukraine, oil prices could hit $300 a barrel.

Crude Oil, April 25, 2022
Current Price: 97.850

Crude Oil

Weekly

Trend direction

UP

Resistance 3

130

Resistance 2

113

Resistance 1

104

Support 1

92

Support 2

90

Support 3

88

Example of calculation base on weekly trend direction for 1.00 Lot1

Crude Oil

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

32,150.00

15,150.00

6,150.00

-5,850.00

-7,850.00

-9,850.00

Profit or loss in €2

29,943.47

14,110.22

5,727.91

-5,448.50

-7,311.24

-9,173.97

Profit or loss in £2

25,217.66

11,883.28

4,823.91

-4,588.60

-6,157.35

-7,726.10

Profit or loss in C$2

40,927.59

19,286.25

7,829.07

-7,447.17

-9,993.21

-12,539.25

1. 1.00 lot is equivalent of 1000 units
2. Calculations for exchange rate used as of 08:50 (GMT+1) 25/04/2022

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 detail

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