“As exciting as the Trading Stage of the Lotus Elise Trading Competition has been, we can’t wait to see how our Traders fare in the Guessing Stage,” says Dennis de Jong, Managing Director at UFXMarkets.com.
London, UK (PRWEB UK) 23 May 2014
The Trading Stage of the UFXMarkets Lotus Elise Trading Competition is about to enter its final week. This means that the Guessing Stage, where Traders have to predict the closing price of Gold or Oil at the end of the first week in June, is fast approaching.
“As exciting as the Trading Stage of the Lotus Elise Trading Competition has been, we can’t wait to see how our Traders fare in the Guessing Stage,” says Dennis de Jong, Managing Director at UFXMarkets.com. “Traders will use fundamental and technical analysis to predict the range they believe Gold or Oil will be trading in, before trying to pinpoint a closing price that could win the Lotus Elise sports car.”
A valuable asset that has been traded for millennia, Gold once acted as the world’s financial standard. Today, investors see Gold as a financial safe haven that will always hold some value and whose market volatility offers plenty of opportunities to profit.
When the economic crisis hit in 2008, Gold entered a bullish trend that caused its price to more than double from around $900 to $1900 in just two years. As the cloud of global recession cleared, Gold began to drop, settling into a $200 trading range for the last 12 months.
Since April, this range has narrowed to just $60 and UFXMarkets Traders looking to win a Lotus Elise should be predicting a price near the $1300 mark.
As a non-renewable energy source in a world that relies on fuel to function, Oil is generally a high-demand, low-supply commodity. Affectionately called Black Gold, Oil’s exclusivity and practical value make it a highly tradable commodity with a very volatile personality.
Perhaps the asset that is most sensitive to financial, political and social upheaval, Oil lost $115 or 77% of its value in just six months during the financial crisis, before seeing a similar uptrend to Gold in the years that followed. As economies have recovered, Oil has also moved into a narrower trading range of $40.
Since April, this range has narrowed to just $6 and Traders should be predicting a price near the $102 mark to win the Lotus Elise.
Just Five Trades
The rules of the UFXMarkets Lotus Elise Trading Competition allow for the possibility of one single guess, earned by just five trades being enough to win the car, even on May 31st, the last day of trading. There is still time to enter and win the contest at ufxmarkets.com/topgear.
About UFX Markets
Since its establishment in 2007, UFXMarkets has become one of the world’s leading online Forex brokers and investment networks, specializing in trading commodities, currencies, CFDs and indices. A Cyprus Investment Firm licensed and regulated by CySEC and a member of the European Union Securities and Exchange Commission, UFXMarkets guides traders with a wealth of financial resources and a professional team of financial experts with a combined 50 years of Forex experience.
For more information about UFXMarkets, please visit http://www.UFXMarkets.com.