Gasoline weekly uptrend opportunity based On 1.00 Lot Calculation:
- PRICE ACTION: Gasoline has lost around 10.00% over the past three weeks, trying to stay above the mark of 2.00 this week. Gasoline traded last slightly above the mark of 2.20.
- TRAFFIC RISES ACROSS THE WORLD: Traffic is pretty much back to pre-pandemic levels on roads criss-crossing the Americas and most of Europe as commuters are back into their cars. Traffic was above typical 2019 levels in the US and some parts of Europe. Motorway sensors in Brazil and Mexico both showed toll road traffic was ahead of the equivalent period in 2019. In China, gasoline demand was higher than the same period in 2019. India’s gasoline and diesel sales rebounded in June.
- VACCINATION PROCESS EXPANDS GLOBALLY WITH 3.67 BILLION DOSES BEING ADMINISTERED SO FAR AT AN AVERAGE DAILY RATE OF 32.8 MILLION DOSES. The expanding vaccination process keeps chances high that more and more countries will reopen into the summer, which could increase travelling and therefore fuel consumption could rise. This tends to support oil prices. On June 15, California fully reopened its economy, the world’s fifth-largest, while New York lifted its remaining restrictions.
Gasoline, July 22, 2021
Current Price: 2.2090
|
GASOLINE |
Weekly |
|
Trend direction |
|
|
2.3280 |
|
|
2.3000 |
|
|
2.2700 |
|
|
2.1500 |
|
|
2.1300 |
|
|
2.1000 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
GASOLINE |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
11,900.00 |
9,100.00 |
6,100.00 |
-5,900.00 |
-7,900.00 |
-10,900.00 |
|
Profit or loss in €** |
10,101.27 |
7,724.50 |
5,177.96 |
-5,008.19 |
-6,705.88 |
-9,252.42 |
|
Profit or loss in £** |
8,666.14 |
6,627.05 |
4,442.31 |
-4,296.66 |
-5,753.15 |
-7,937.90 |
|
Profit or loss in C$** |
14,958.78 |
11,439.06 |
7,667.94 |
-7,416.54 |
-9,930.62 |
-13,701.74 |
* 1.00 lot is equivalent of 100000 units
** Calculations for exchange rate used as of 9:00 a.m. (GMT) 22/07/2021
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