Crude Oil Analysis

US Session Analysis for CFD Instruments 13/08/2019

Fundamental analysis

13 August, 2019 Research Department

Crude oil rose in Tuesday to briefly test levels above the rate of 55.00 as investors continued to believe that major oil producers led by Saudi Arabia would act if the prices fell strongly. Fears over oil demand outlook, however, continued to cap oil gains with OPEC’s monthly report expected on Tuesday to give better clues on both demand and supply side. Later in the US (21:30 GMT+1), the American Petroleum Institute will publish its weekly report on oil stocks.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 13/08/2019

Support & Resistance	Level	Explanation
Resistance 2	55.740	Daily R2
Resistance 1	55.276	Daily R1
Support 1	54.204	Daily S1
Support 2	53.740	Daily S2

CRUDEOIL Indicator Table - 13/08/2019

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

CRUDEOIL Indicator / Period Table - 13/08/2019

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

CRUDEOIL 13/08/2019 - Reference Price : 54.276

Buy

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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