CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% 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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% 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.

Chart of the day - OIL.WTI (06.10.2022)

07:21 6 October 2022

WTI crude futures traded near $88.00 per barrel on Thursday, having rallied more than 10% so far this week as OPEC+ agreed to cut output by 2 million barrels per day, the biggest output cut since the start of the pandemic. Yesterday the price broke above the major resistance zone around $87.60, which is marked with upper limit of the local 1:1 structure, downward trendline and 61.8% Fibonacci retracement of the upward wave launched in December 2021. As long as price sits above this level, upward move may accelerate towards next resistance at $92.75.

OIL.WTI, H4 interval. Source: xStation5

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