Crude Oil Analysis

US Session Analysis for CFD Instruments 26/04/2024

Fundamental analysis

26 April, 2024

Crude Oil is trading today in the European session around the $83 level.

In European trading on Friday, oil prices saw a modest uptick, poised for a favourable conclusion to the week amid traders' focus on potentially constrained supplies and ongoing geopolitical tensions in the Middle East.

However, the gains remained subdued as markets remained cautious ahead of the release of U.S. inflation data later in the day. This data could provide further insights into the trajectory of interest rates.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 26/04/2024

Support & Resistance	Level	Explanation
Resistance 2	85.59	Daily R2
Resistance 1	84.89	Daily R1
Support 1	83.01	Daily S1
Support 2	82.31	Daily S2

CRUDEOIL Indicator Table - 26/04/2024

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

CRUDEOIL Indicator / Period Table - 26/04/2024

Indicator / Period	Day - Buy	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Buy	Buy
RSI (14)	Buy	Buy	Buy
SMA 20	Buy	Sell	Buy

CRUDEOIL 26/04/2024 - Reference Price : 83.95

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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