Crude oil price is increasing 1.1%

Fast Moving Market - 19/12/2024

19 December, 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 increasing 1.1% following better than expected GDP data coming from the US

Possible Scenarios:

If Crude oil fails to breach through R1 of 70.458, our Research Department expects the Crude oil to undergo a short- term downward correction.

If Crude oil manages to break above its R1 of 70.458, our Research Department expects the Crude oil to extend its gains to its R2 of 70.877.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	68.505	68.924	69.342	69.900	70.458	70.877	71.295

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €96.13	(+/-) £79.38

*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.04021
***GBP/USD= 1.25984
Calculations for exchange rate used as of Thursday, December 19, 2024, 14:55 GMT

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