Crude Oil weekly special report based on 1.00 Lot Calculation:
TECHNICAL ANALYSIS:
- TRADING CHANNEL (NOVEMBER 2022 – FEBRUARY 2025): CRUDE OIL HAS MAINLY TRADED BETWEEN $70 AND $75.
- CRUDE OIL HAS TESTED THE MARK OF $70 BEFORE IT RECOVERED TO $75: 12 times
- CRUDE OIL HAS TESTED THE MARK OF $75 BEFORE IT CORRECTED DOWN TO $70: 7 times
GRAPH (Weekly): November 2022 – February 2025
Please note that past performance does not guarantee future results
GEOPOLITICS:
- KAZAKHSTAN OIL FLOWS SLOWED AFTER AN ATTACK ON AN OIL PIPELINE. The recent attack on the Kropotkinskaya pumping station in Russia's Krasnodar region has disrupted oil flows through the Caspian Pipeline Consortium (CPC) pipeline, a crucial route transporting 80% of Kazakhstan’s oil exports to the global market via the Black Sea port of Novorossiysk. This disruption has reduced the supply of Kazakh oil, affecting major Western producers like Chevron and Exxon Mobil, and contributed to a rise in energy prices as markets react to the potential supply shortfall.
- US PRESIDENT TRUMP SIGNED AN EXECUTIVE ORDER TO PUT “MAXIMUM PRESSURE” ON IRAN: U.S. President Donald Trump restored his "maximum pressure" campaign on Iran including efforts to drive its oil exports down to zero from current around 1.6 million barrels a day to stop Tehran from obtaining a nuclear weapon (Source: Reuters).
EVENTS:
- WEDNESDAY, FEBRUARY 19 AT 21:30 GMT: AMERICAN PETROLEUM INSTITUTE (API) WEEKLY OIL INVENTORY DATA (USA). Last week's data showed an unexpectedly high increase in inventories of 9.043 million barrels, up from the previous week’s inventory increase of 5.025 million barrels.
- THURSDAY, FEBRUARY 20 AT 17:00 GMT: ENERGY INFORMATION ADMINISTRATION (EIA) WEEKLY OIL INVENTORY DATA (USA). Data last week showed a larger than expected increase in inventories +4.070 million barrels vs. 2.4 million barrels increase expected), and all that compared to the previous week’s increase of 8.664 million barrels.
Crude Oil, February 18, 2024
Current Price: 71.50
|
Crude Oil |
Weekly |
|
Trend direction |
|
|
80 |
|
|
77 |
|
|
75 |
|
|
69 |
|
|
68 |
|
|
67 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Crude Oil |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
8,500 |
5,500 |
3,500 |
-2,500 |
-3,500 |
-4,500 |
|
Profit or loss in €² |
8,124 |
5,257 |
3,345 |
-2,389 |
-3,345 |
-4,301 |
|
Profit or loss in £² |
6,746 |
4,365 |
2,778 |
-1,984 |
-2,778 |
-3,571 |
|
Profit or loss in C$² |
12,057 |
7,802 |
4,965 |
-3,546 |
-4,965 |
-6,383 |
1. 1.00 lot is equivalent of 1000 units
2. Calculations for exchange rate used as of 11:00 (GMT) 18/02/2025
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than the suggested one.
- Trailing stop techniques could protect the profit.