Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Trade of the week: short WTI crude oil

WTI front month crude oil futures are nearing key technical resistance we would like to go short in with a stop loss at 72.50 and a downside target in the 67.00 region.

Video poster image

(Partial video transcript)

Previous trading outcomes

Axel Rudolph: Hello and welcome to this week's "Trade of the week" on Monday, the 4th of November 2024. About 2 or 3 weeks ago, we went short New York cotton front month futures. And as you can see here, we did so around 72.69. And currently, that trade is still on. We still have our stop loss above these previous highs going back to the end of September, around 75.58 and we still have our downside target in play around 68.50. So that trade is still ongoing.

And then what we did last week, we looked at Arabica coffee futures. And what we wanted to do is go long because we had an uptrend here. And we thought this was an ABC correction. That was really good support here. And we basically went long here, around 251.65, I believe, and had a stop loss down at 240.70, just below this low there. And as you can see, we just got stopped out on that trade. So we made a small loss on this trade here.

This week's trading opportunity

Which brings me to this week's "Trade of the week". And what I would like to do is look at crude oil futures. And you can see here WTI front month futures are heading back towards this key resistance area, going back to the beginning of June. And that, I believe, will act as resistance in the days ahead. So what I would like to do is sell against that resistance area here with the downside target back around the 67.00 area. So I need a stop loss just above these highs here, and also the low going back to the beginning of June.

This week's Trade of the week is to go short WTI crude oil futures, ideally at slightly higher levels around 71.00/71.50 or so with a stop loss at 72.50 and a downside target in the 67.00 region.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It 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. See full non-independent research disclaimer and quarterly summary.

React to volatility on commodity markets

Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1

  • Wide range of popular and niche metals, energies and softs
  • Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
  • View continuous charting, backdated for up to five years
Find out more

1In the case of all DFBs, there is a fixed expiry at some point in the future.

See opportunity on a commodity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off
Log in now

See opportunity on a commodity?

Don’t miss your chance. Upgrade to a live account to take advantage.

  • Analyse and deal seamlessly on fast, intuitive charts
  • Get spreads from just 0.3 points on Spot Gold
  • See and react to breaking news in-platform
Log in now

See opportunity on a commodity?

Don’t miss your chance. Log in to take your position.

Take advantage

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.