Gasoline weekly uptrend opportunity based On 1.00 Lot Calculation:
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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 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.
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BREAKING: EU AGREED TO BAN 90% OF RUSSIAN OIL TO THE EU. European Union leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year. The embargo would encompass 90% of all imports from Russia once Poland and Germany, which are also connected to the pipeline, stop buying it by the end of the year. The remaining 10% will be temporarily exempt from the embargo so that landlocked Hungary, which was the main holdout for a deal, along with Slovakia and the Czech Republic, which are all connected to the southern leg of the pipeline, has access which it cannot easily replace. Two thirds of the Russian oil imported by the EU comes via tanker and one third by the Druzhba pipeline. The embargo on seaborne oil imports would therefore apply to 2/3 of all oil imported from Russia.
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EVENT (JUNE 1): SHANGHAI (CHINA) REOPENING FROM COVID-19 LOCKDOWNS TO INCREASE OIL AND GASOLINE DEMAND. Authorities there say there have been no new coronavirus cases outside quarantine for the 3rd day in a row. Shanghai set out plans on Monday for the return of more normal life from June 1.
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EVENT (MAY 30 TO EARLY SEPTEMBER): THE U.S. DRIVING SEASON STARTS AT THE END OF MAY TO INCREASE THE OIL AND GASILINE DEMAND. Throughout the driving season people in the US travel more than other parts of the year, which usually increases demand for oil and fuel. Gasoline and Diesel traded close to recent all-time highs in the US, pointing to shortages in some places.
BREAKING: JPMORGAN PREDICTS GASOLINE PRICES AT THE PETROL STATIONS IN THE US WILL RISE BY MORE THAN 30% TO RECORD HIGH DURING THE SUMMER. The bank said that with expectations of strong driving demand US retail prices (at the petrol stations across the USA) could surge by another 37% by August.
Gasoline, June 2, 2022
Current Price: 4.0250
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Gasoline |
Weekly |
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Trend direction |
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|
4.7000 |
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|
4.5000 |
|
|
4.3000 |
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|
3.7800 |
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|
3.7100 |
|
|
3.6300 |
Example of calculation base on weekly trend direction for 1.00 Lot1
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GASOLINE |
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Pivot Points |
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Profit or loss in $ |
67,500.00 |
47,500.00 |
27,500.00 |
-24,500.00 |
-31,500.00 |
-39,500.00 |
|
Profit or loss in €2 |
63,153.76 |
44,441.53 |
25,729.31 |
-22,922.48 |
-29,471.75 |
-36,956.64 |
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Profit or loss in £2 |
53,774.58 |
37,841.37 |
21,908.16 |
-19,518.18 |
-25,094.80 |
-31,468.09 |
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Profit or loss in C$2 |
85,364.55 |
60,071.35 |
34,778.15 |
-30,984.17 |
-39,836.79 |
-49,954.07 |
1. 1.00 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 14:25 (GMT+1) 02/06/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Client Manager for more detail