CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 06/08/2020

Fundamental analysis

06 August, 2020

Oil prices slipped just below five-month highs on Thursday, with support from a weak dollar .DXY and falling U.S. crude inventories undermined by bearish sentiment about fuel demand. The two benchmarks rose to their highest since March 6, completing a four-day rally, after the Energy Information Administration reported a much bigger than expected drop in U.S. crude stockpiles. The dollar index, which measures the greenback against a basket of six major currencies .DXY, logged its biggest monthly percentage fall in a decade in July and a Reuters poll found analysts expected it to continue falling into next year. The index has moved in and out of positive territory on Thursday after falling for two sessions. A weaker U.S. currency makes dollar-priced oil cheaper for holders of other currencies.

Technical analysis

Crude Oil Analysis Technical analysis 06/08/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 06/08/2020

Support & Resistance Level Explanation
Resistance 2 42.944 Daily R2
Resistance 1 42.398 Daily R1
Support 1 40.942 Daily S1
Support 2 40.396 Daily S2

CRUDEOIL Indicator Table - 06/08/2020

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

CRUDEOIL Indicator / Period Table - 06/08/2020

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

CRUDEOIL 06/08/2020 - Reference Price : 41.670

Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
Share It With Your Network
Crude OIL Chart
Update Time: -
1M 5M H D W
Prices are loading..
Ready for trading?Start Now