Crude Oil price is rising 1.7%

Fast Moving Market - 19/09/2024

19 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 rising 1.7% on rising optimism after US Fed decided to cut rates yesterday by 0.50% points to 5%.

Possible Scenarios:

If Crude oil fails to breach through R1 of 70.890, our Research Department expects Crude oil to undergo a short- term downward correction.

If Crude oil manages to break above its R1 of 70.890, our Research Department expects Crude oil to extend its gains to its R2 of 71.502.

Support and Resistance Levels:

Crude oil	S3	S2	S1	Reference Price	R1	R2	R3
Crude oil	68.037	68.648	69.260	70.075	70.890	71.502	72.113

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €89.73	(+/-) £75.44

*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.11440
***GBP/USD= 1.32559
Calculations for exchange rate used as of Thursday, September 19, 2024, 08:00 GMT+1

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