Crude oil price is falling -2.2%

Fast Moving Market - 06/09/2024

06 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 -2.2% on a stronger US dollar, testing its lowest rate since late 2023 ($68.315).

Possible Scenarios:

If Crude oil fails to breach through S1 of 68.402, our Research Department expects Crude oil to undergo a short- term upward correction.

If Crude oil manages to break below its S1 of 68.402, our Research Department expects Crude oil to extend its losses to its S2 of 67.587.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	66.771	67.587	68.402	69.490	70.578	71.393	72.209

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €90.04	(+/-) £75.88

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.11064
***GBP/USD = 1.31780
Calculations for exchange rate used as of Friday, September 6, 2024, 15:40 GMT+1

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