Crude Oil Analysis

US Session Analysis for CFD Instruments 11/07/2019

Fundamental analysis

11 July, 2019

Oil prices continued to trade higher on Thursday above 60 dollars at a six week high, as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region. A day after Iran warned Britain would face “consequences” over the seizure of an Iranian oil tanker, three Iranian vessels tried to block the passage of a British ship run by BP through the Strait of Hormuz. Oil prices were also supported by a decline in U.S. inventories. U.S. crude stocks fell 9.5 million barrels in the week to July 5, the Energy Information Administration said, more than the 3.1 million-barrel draw analysts had expected as refineries ramped up output. U.S. oil producers on Wednesday also cut nearly a third of their output in the Gulf of Mexico ahead of what could be one of the first major storms of the Atlantic hurricane season.

Technical analysis

Crude Oil Analysis Technical analysis 11/07/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 11/07/2019

Support & Resistance Level Explanation
Resistance 2 61.600 Daily R2
Resistance 1 61.100 Daily R1
Support 1 60.349 Daily S1
Support 2 59.856 Daily S2

CRUDEOIL Indicator Table - 11/07/2019

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

CRUDEOIL Indicator / Period Table - 11/07/2019

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

CRUDEOIL 11/07/2019 - Reference Price : 60.710

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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11/07/19 - Thursday / Analysis
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