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CFDs come with a high risk of losing money rapidly due to leverage. 71% of accounts lose money when trading CFDs with this provider. You should understand how CFDs work and consider if you can take the risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

79% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: Crude Oil to remain bearish

Copy of Blog Images - Skilling - 2023-07-05T115607.560

Market Commentary

Crude oil looks to remain bearish because:

  1. It did not happen, expectations that China's oil demand would have increased after the removal of the COVID lockdowns.
  2. The media has been “jawboning” and telling the markets that higher interest rates will slow down economic growth, to the point some people actually believe it, despite the rather healthy underlying economic conditions.
  3. The voluntary oil production cuts from Saudi have kicked in, however, the cuts have not moved oil prices that much higher since the first announcement of the cuts.
  4. The US has a high availability of crude oil production which can counterbalance OPEC’s efforts to push up oil prices in the short term.
  5. The US wants lower oil prices for its domestic policy as well as its multitude of geopolitical objectives.

Screenshot 2023-07-05 120357

Do you have an opinion on where Oil prices are heading? Express your opinion with Crude Oil CFDs.


Upcoming economic events


Today’s economic calendar

Federal Open Market Committee (FOMC) Minutes

  • The minutes are released normally around three weeks after a US Fed interest rate decision.
  • The minutes provided insights into how the committee voted and what was discussed that lead the committee to make any policy decisions

Screenshot 2023-07-05 120432 Source: TradingView / J. Knobel July 5 2023 8:29 UTC


Trading insights & strategy

Higher tops and higher bottoms on price suggest an uptrend

  • Current price 1.2713
  • Upside prospects for an extension towards 1.2980
  • Downside risk below the 1.2590 support could expose the lower key support near 1.2370.

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Not investment advice. Past performance does not guarantee or predict future performance.