Crude oil price is falling -0.7%

Fast Moving Market - 03/09/2024

03 September, 2024

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.

NEWS: CRUDE OIL price is falling -0.7% as concern about a sluggish economy in China bringing down demand

Possible Scenarios:

If Crude oil fails to breach through S1 of 72.964, our Research Department expects the Crude oil to undergo a short- term upward correction.

If Crude oil manages to break below its S1 of 72.964, our Research Department expects the Crude oil to extend its losses to its S2 of 72.258.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	71.552	72.258	72.964	73.905	74.846	75.552	76.258

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €90.48	(+/-) £76.2

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.10518
***GBP/USD = 1.31242
Calculations for exchange rate used as of Tuesday, September 3, 2024, 10:49: AM

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