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Crude Oil Analysis

US Session Analysis for CFD Instruments 08/11/2019

Fundamental analysis

08 November, 2019

Oil prices were sharply lower on Friday weighed down by lingering uncertainty about how close the United States and China were to a trade deal and on rising U.S. crude inventories. The 16-month trade war between the world’s two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020. Oil prices have also been under pressure since OPEC Secretary-General Mohammad Barkindo said this week that he was more optimistic about the outlook for 2020, appearing to downplay any need to cut output more deeply.

Technical analysis

Crude Oil Analysis Technical analysis 08/11/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 08/11/2019

Support & Resistance Level Explanation
Resistance 2 57.762 Daily R2
Resistance 1 57.102 Daily R1
Support 1 55.608 Daily S1
Support 2 54.989 Daily S2

CRUDEOIL Indicator Table - 08/11/2019

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

CRUDEOIL Indicator / Period Table - 08/11/2019

Indicator / Period Day - SellWeek - BuyMonth - Sell
MACD( 12;26;9) Sell BuySell
RSI (14) Sell BuyNeutral
SMA 20 Sell BuyNeutral

CRUDEOIL 08/11/2019 - Reference Price : 56.325

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (0)Sell (3)
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08/11/19 - Friday / Analysis
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