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Crude Oil Analysis

US Session Analysis for CFD Instruments 09/10/2019

Fundamental analysis

09 October, 2019

Oil prices reversed on Wednesday following media reports that China was open to agreeing a partial trade deal with the United States, while unrest in OPEC members Iraq and Ecuador also supported prices. Negotiators from the United States and China, the world’s top two economies, will meet in Washington on Thursday in the latest effort to hammer out a deal aimed at ending a long-running trade dispute that has slowed global growth. The Financial Times also reported, quoting an unnamed source, that China was offering to increase annual purchases of U.S. agricultural products as part of efforts to secure an interim trade agreement with Washington.

Technical analysis

Crude Oil Analysis Technical analysis 09/10/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 09/10/2019

Support & Resistance Level Explanation
Resistance 2 54.778 Daily R2
Resistance 1 54.044 Daily R1
Support 1 52.016 Daily S1
Support 2 51.213 Daily S2

CRUDEOIL Indicator Table - 09/10/2019

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

CRUDEOIL Indicator / Period Table - 09/10/2019

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Buy SellSell
SMA 20 Buy SellSell

CRUDEOIL 09/10/2019 - Reference Price : 53.055

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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