Crude Oil

Special Reports - 28/03/2023

28 March, 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.

Crude Oil weekly special report based On 1 Lot Calculation:

SPECIAL REPORT: Crude Oil

DATE: March 28, 2023

EVENT: Channel Price Movement

TECHNICAL REVIEW:

CHANNEL PRICE MOVEMENT: CRUDE OIL HAS BEEN TRADING IN THE RANGE OF $66 - $88. On the downside, the support area lies between $66 and $62, which was last tested in December 2021. On the upside, since November 2022, Crude Oil has faced strong resistance at $80.

Please note that past performance does not guarantee future results.

MAIN PARAMETERS:

RESISTANCE: $80

REFERENCE PRICE: $73

SUPPORT: $66

CHANNEL TRADING MAIN SCENARIOS:

SCENARIO 1: IF CURRENT PRICE TRADES BELOW THE REFERENCE PRICE OF $73 (BETWEEN $66 AND $73), THEN AN UPWARD MOVEMENT MAY BE EXPECTED. TARGET: $80
SCENARIO 2: IF CURRENT PRICE TRADES ABOVE REFERENCE PRICE OF $73 (BETWEEN $73 AND $80), THEN A DOWNWARD MOVEMENT MAY BE EXPECTED. TARGET: $66

GRAPH: Weekly Chart Crude Oil Price (2019- 2023)

Source: Fortrade MetaTrader4 Platform

CURRENT PRICE: $73 - UPWARD MOVEMENT CALCULATION

Example of calculation based on weekly trend direction for 1 Lot¹

CRUDE OIL
	Resistance 1	Support 1
Levels	$80	$66
Profit or loss in $	6,760	-7,240
Profit or loss in €²	6,248	-6,692
Profit or loss in £²	5,493	-5,883
Profit or loss in C$²	9,225	-9,880

1. 1.00 lot is equivalent of 1000 units
2. Calculations for exchange rate used as of 09:00 (GMT+1) 28/03/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient 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 Senior Account ManagerClient Manager for more detail

CURRENT PRICE: $73 - DOWNWARD MOVEMENT CALCULATION

Example of calculation based on weekly trend direction for 1 Lot¹

CRUDE OIL
	Resistance 1	Support 1
Levels	$80	$66
Profit or loss in $	-6,760	7,240
Profit or loss in €²	-6,248	6,692
Profit or loss in £²	-5,493	5,883
Profit or loss in C$²	-9,225	9,880

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 Senior Account ManagerClient Manager for more detail

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