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Crude Oil Analysis

US Session Analysis for CFD Instruments 12/02/2019

Fundamental analysis

12 February, 2019

Oil prices gained nearly 2 percent on Tuesday, supported by OPEC-led production cuts which Saudi Arabia said it would surpass by over half a million barrels per day (bpd) and by U.S. sanctions against Iran and Venezuela. Markets are tightening because of voluntary production cuts, effective since Jan. 1, led by the Organization of the Petroleum Exporting Countries and allies including Russia aimed at forestalling a global glut. Saudi Arabia, the world's top oil exporter and de facto leader of OPEC, said it would reduce crude production to around 9.8 million bpd in March, over half a million bpd more than it originally pledged. Energy Minister Khalid al-Falih announced the move in an interview with the Financial Times published on Tuesday, as the kingdom seeks to drive up oil prices to help fund an economic transformation plan.

Technical analysis

Crude Oil Analysis Technical analysis 12/02/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 12/02/2019

Support & Resistance Level Explanation
Resistance 2 53.89 Daily R2
Resistance 1 53.71 Daily R1
Support 1 52.96 Daily S1
Support 2 52.79 Daily S2

CRUDEOIL Indicator Table - 12/02/2019

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

CRUDEOIL Indicator / Period Table - 12/02/2019

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

CRUDEOIL 12/02/2019 - Reference Price : 53.40

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