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Crude Oil Analysis

US Session Analysis for CFD Instruments 02/12/2019

Fundamental analysis

02 December, 2019

Oil prices traded sharply higher on Monday gaining over 2.5% so far in the European session as signs of rising manufacturing activity in China, Germany and the UK and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year. Over the weekend Iraq said that OPEC would discuss cutting further the existing production deal and today two OPEC sources said that the organisation plans to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco.

Technical analysis

Crude Oil Analysis Technical analysis 02/12/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 02/12/2019

Support & Resistance Level Explanation
Resistance 2 58.160 Daily R2
Resistance 1 57.547 Daily R1
Support 1 55.521 Daily S1
Support 2 54.894 Daily S2

CRUDEOIL Indicator Table - 02/12/2019

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

CRUDEOIL Indicator / Period Table - 02/12/2019

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuySell
RSI (14) Buy NeutralNeutral
SMA 20 Buy SellBuy

CRUDEOIL 02/12/2019 - Reference Price : 56.585

Simple Moving AverageBuy (1)Sell (2)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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02/12/19 - Monday / Analysis
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