Crude Oil price is rising 1.2%

Fast Moving Market - 13/12/2024

13 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 rising 1.2% as investors remained optimistic that China will increase its economic stimulus into 2025, which could further support the oil demand.

Possible Scenarios:

If Crude oil fails to breach through R2 of 71.201, our Research Department expects Crude oil to undergo a short- term downward correction.

If Crude oil manages to break above its R2 of 71.201, our Research Department expects Crude oil to extend its gains to its R3 of 71.692.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	68.418	68.909	69.400	70.055	70.710	71.201	71.692

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €95.35	(+/-) £79.08

*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.04877
***GBP/USD = 1.26449
Calculations for exchange rate used as of Friday, December 13, 2024, 11:00 GMT

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