Crude Oil
March 28, 2023
Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s 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 |
||
|
|
||
|
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 |
||
|
|
||
|
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
