Crude Oil Analysis

US Session Analysis for CFD Instruments 15/04/2019

Fundamental analysis

15 April, 2019

Crude Oil traded lower during the European session, despite geopolitical tensions in a number of oil producing countries as well as output cuts enforced by Opec and its allies. Libya, one of the important members of Opec has been going through a crisis following clashes between different armed groups for the control of power at the capital city Tripoli whereas production has been hit hard in Venezuela and Iran, due to sanctions by the United States government. Libya produced slightly more than 1 million barrels per day (mbpd) in March, Opec’s oil market report for March shows. Venezuela’s output stood at 732,000 mbpd, while Iran churned out 2.6 million barrels per day and Algeria hit above 1 mbpd. But Crude Oil fell after the International Monetary Fund last week downgraded its global growth forecast to the lowest in ten years while President Vladimir Putin raised doubts about Russia’s willingness to support a prolonged period of production cuts, causing traders to worry that oil demand may reduce in future.

Technical analysis

Crude Oil Analysis Technical analysis 15/04/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 15/04/2019

Support & Resistance Level Explanation
Resistance 2 64.000 Daily R2
Resistance 1 63.675 Daily R1
Support 1 62.911 Daily S1
Support 2 62.500 Daily S2

CRUDEOIL Indicator Table - 15/04/2019

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

CRUDEOIL Indicator / Period Table - 15/04/2019

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

CRUDEOIL 15/04/2019 - Reference Price : 63.285

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