Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

The vast majority of retail client accounts lose money when trading CFDs.

You should consider whether you can afford to take the high risk of losing your money.

The vast majority of retail client accounts lose money when trading CFDs.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
ATFX
ATFX-search-icon
Client Portal
Start trading
rch

Crude Oil Price Seeks The Next Bottom Amidst Rate Hike Fears

Crude oil markets were hit with selling pressure. Russian supplies face a new Western ban on supplies from the country. Stronger-than-expected US economic data ramped up fears of persistent inflationary pressures, which could keep interest rates elevated for longer than expected and weigh on oil prices.

crude oil price chart

US Oil – 4 hourly Chart

Crude oil prices failed to continue upward and fell near $5 from $82.7 on Monday. Technically, the oil price is below the 10 and 20-day moving averages in the 4-hour chart. Both moving averages have turned into resistance and will test $75 support. Suppose its price breaks; it will see a low of $73.60 at the end of November. Conversely, the oil price, secured at $75, will be bound back to the upper moving average around the $79 level.

Last Updated: 06/12/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

Recent news

Recent news
Gold Heading for $2,000 as War Theme Escalates

Gold prices were $20 lower on Thursday after the more substantial GDP number from the US. ...

Recent news
GBPUSD Could Be Ready for a Meaningful Pullback

GBPUSD will move with the US PCE pricing data release as analysts continue to price the in...

Recent news
EURUSD Trading Levels Ahead of US GDP Growth Release

EURUSD will be in focus as the US economy gets to see another GDP growth release on Thursd...

Recent news
Oil Price Still Trying to Find a Price Low

The oil price is still trying to find a price low near the $80 level this week.  Oil has c...

Recent news
Potential Canadian Dollar Rebound As EURCAD Faces IFO Index

EURCAD to face a release of data on Wednesday and could define whether the Canadian dollar...