Crude Oil Analysis

US Session Analysis for CFD Instruments 14/03/2019

Fundamental analysis

14 March, 2019

Crude Oil prices traded higher having hit a five month high of 58.65 earlier in the session before losing much of its gains amid reports that a trade meeting between President Donald Trump and China President Xi Jinping may be delayed, if it happens at all, fueling fresh some worries about disruptions to demand driven by the protracted tariff dispute. Bloomberg News reported Thursday morning that a meeting between Trump and Chinese President Xi Jinping will be delayed until at least April, news that appeared to weigh on stock-index futures. Meanwhile, the Organization of the Petroleum Exporting Countries, in a monthly report, said output by its members fell in February and left its demand growth forecast for 2019 unchanged. On Wednesday, the Energy Information Administration reported that U.S. crude supplies fell by 3.9 million barrels for the week ended March 8. That ran counter to expectations for a climb of 3.3 million barrels expected by analysts polled by S&P Global Platts.

Technical analysis

Crude Oil Analysis Technical analysis 14/03/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 14/03/2019

Support & Resistance Level Explanation
Resistance 2 59.10 Daily R2
Resistance 1 58.62 Daily R1
Support 1 57.87 Daily S1
Support 2 57.46 Daily S2

CRUDEOIL Indicator Table - 14/03/2019

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

CRUDEOIL Indicator / Period Table - 14/03/2019

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

CRUDEOIL 14/03/2019 - Reference Price : 58.26

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