Crude Oil Analysis

US Session Analysis for CFD Instruments 11/01/2019

Fundamental analysis

11 January, 2019

Crude prices traded lower on Friday during the European session, but remain on course to book its second straight weekly gain, having risen nearly 9% so far this week. The sentiment around the barrel of WTI remains buoyed amid increased odds of a US-China trade resolution, especially after the US Treasury Secretary Mnuchin noted that the Chinese Vice Premier Liu will visit the US end-of this month for further negotiations. China is the world’s second largest oil consumer after the US. Meanwhile, falling Iranian crude exports combined with the OPEC supply cuts underway offer further impetus to the ongoing bullish momentum in oil prices.

Technical analysis

Crude Oil Analysis Technical analysis 11/01/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 11/01/2019

Support & Resistance Level Explanation
Resistance 2 53.74 Daily R2
Resistance 1 53.20 Daily R1
Support 1 52.45 Daily S1
Support 2 51.92 Daily S2

CRUDEOIL Indicator Table - 11/01/2019

Indicator Signal
SMA 20 Buy
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Neutral
RSI (14) Neutral
Stochastic ( 9;6;3) Sell

CRUDEOIL Indicator / Period Table - 11/01/2019

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Neutral SellSell
RSI (14) Neutral NeutralBuy
SMA 20 Buy SellSell

CRUDEOIL 11/01/2019 - Reference Price : 52.80

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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