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 16/09/2020

Fundamental analysis

16 September, 2020

Oil rose for a second day on Wednesday, gaining more than 2%, as a hurricane closed U.S. offshore oil and gas production and an industry report showed U.S. crude inventories decreased. More than a quarter of U.S. offshore output was shut on Tuesday due to Hurricane Sally. The American Petroleum Institute on Tuesday said crude inventories fell 9.5 million barrels, rather than increased as analysts expected. The storm-related shutdowns may help reduce stockpiles although refineries were also closed, cutting demand. Official Energy Information Administration stocks data, which does not always confirm the API figures, is due at 1530 GMT+1.

Technical analysis

Crude Oil Analysis Technical analysis 16/09/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/09/2020

Support & Resistance Level Explanation
Resistance 2 40.025 Daily R2
Resistance 1 39.740 Daily R1
Support 1 38.980 Daily S1
Support 2 38.695 Daily S2

CRUDEOIL Indicator Table - 16/09/2020

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

CRUDEOIL Indicator / Period Table - 16/09/2020

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

CRUDEOIL 16/09/2020 - Reference Price : 39.360

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