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.
Crude Oil Analysis
US Session Analysis for CFD Instruments 13/08/2019
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 |
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13/08/19 - Tuesday
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