CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Crude Oil Analysis

US Session Analysis for CFD Instruments 31/07/2020

Fundamental analysis

31 July, 2020

Oil prices rose on Friday and were on track for monthly gains, boosted by a weaker dollar in the face of continuing concerns over the recovery of the U.S. economy as the coronavirus ravages the world’s biggest economy and oil consumer.The dollar extended its dramatic fall on Friday and was on course for its biggest monthly drop in a decade after news on Thursday that U.S. gross domestic product collapsed at a 32.9% annualised rate - the steepest decline in output since records began in 1947. OPEC+, a grouping of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively plan to increase production from Saturday, adding about 1.5 million barrels per day to global supply.

Technical analysis

Crude Oil Analysis Technical analysis 31/07/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 31/07/2020

Support & Resistance Level Explanation
Resistance 2 41.048 Daily R2
Resistance 1 40.650 Daily R1
Support 1 39.590 Daily S1
Support 2 39.192 Daily S2

CRUDEOIL Indicator Table - 31/07/2020

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

CRUDEOIL Indicator / Period Table - 31/07/2020

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

CRUDEOIL 31/07/2020 - Reference Price : 40.120

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Be aware of the holiday trading hours for:

  • Early May Bank Holiday: United Kingdom, Monday 03 May 2021.
Instrument 03.05.2021 04.05.201
ALL FOREX Regular Regular
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UK 100 Closed Regular
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Instrument 12.05.2021 13.05.2021 14.05.2021 17.05.2021
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ALL FOREX Regular Regular Regular Regular
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CHINA 50 closed Regular Regular Regular
  • Monday, 24 May 2021 for Whit Monday in Germany and Switzerland and Victoria Day in Canada.
Instrument 24.05.2021 25.05.201
ALL FOREX Regular Regular
Indices
SWI20 Closed Regular
GER30 Closed Regular
CAD60 Closed Regular
Equities
Equities Germany Closed Regular
Equities Canada Closed Regular
  • Monday, 31 May 2021 for Memorial Day in the United States and Late May Bank Holiday in the UK.
Instrument 31/05/2021 1/6/2021
ALL FOREX Regular Regular
Indices
USA500 Early close 16:59 Regular
USA100 Early close 16:59 Regular
USA30 Early close 16:59 Regular
USA2000 Early close 16:59 Regular
DOLLAR INDEX Early close 16:59 Regular
UK100 Closed Regular
Energy
Crude oil Early close 16:59 Regular
Brent Oil Early close 17:29 Regular
Natural Gas Early close 16:59 Regular
Heating oil Early close 16:59 Regular
Gasoline Early close 16:59 Regular
Commodities
Corn Closed Regular
Soybeans Closed Regular
Wheat Closed Regular
Sugar Closed Regular
Cotton No.2 Closed Regular
Metals
Gold Early close 16:59 Regular
Silver Early close 16:59 Regular
Copper Early close 16:59 Regular
Platinum Early close 16:59 Regular
Palladium Early close 16:59 Regular
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  • Please note all times indicated are GMT
  • The above times may be subject to change
  • Please note that in case of low liquidity in a specific FX or metals instrument, the DR may widen the spreads and even close the instrument for trading – every change of that character will be notified ahead by the DR.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • 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 leveraged contracts work and whether you can afford to take the high risk of losing your money.