Crude Oil Analysis

Evening Analysis for CFD Instruments 07/02/2019

Fundamental analysis

07 February, 2019

Crude prices were lower on Thursday as U.S. crude oil inventories climbed by 1.3 million barrels in the week that ended Feb. 1 to 447.21 million barrels, data from the Energy Information Administration showed on Wednesday. Meanwhile, average weekly U.S. crude oil production remained at the record 11.9 million barrels per day it reached in late 2018. The United States is currently the world's largest oil producer, ahead of traditional top suppliers Russia and Saudi Arabia. Countering the rising U.S. crude output and inventories are voluntary supply cuts led by the Organization of the Petroleum Exporting Countries aimed at tightening the market and propping up prices. U.S. crude oil inventories climbed by 1.3 million barrels in the week that ended Feb. 1 to 447.21 million barrels, data from the Energy Information Administration (EIA) showed on Wednesday.

Technical analysis

Crude Oil Analysis Technical analysis 07/02/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 07/02/2019

Support & Resistance Level Explanation
Resistance 2 54.609 Daily R2
Resistance 1 54.125 Daily R1
Support 1 53.021 Daily S1
Support 2 52.421 Daily S2

CRUDEOIL Indicator Table - 07/02/2019

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

CRUDEOIL Indicator / Period Table - 07/02/2019

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Neutral BuySell
RSI (14) Sell NeutralBuy
SMA 20 Sell NeutralSell

CRUDEOIL 07/02/2019 - Reference Price : 53.585

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