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 18/09/2020

Fundamental analysis

18 September, 2020

Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10%, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit. Both contracts are set for their strongest weekly gains since early June after Hurricane Sally cut U.S. production and OPEC and its allies laid out steps to address market weakness. Goldman Sachs predicted the market would be in a deficit of 3 million barrels per day (bpd) by the fourth quarter and reiterated its target for Brent to reach $49 by the end of the year and $65 by the third quarter of 2021. Meanwhile, a tropical depression in the western part of the Gulf of Mexico could become a hurricane in the next few days, potentially threatening more U.S. oil facilities.

Technical analysis

Crude Oil Analysis Technical analysis 18/09/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 18/09/2020

Support & Resistance Level Explanation
Resistance 2 42.272 Daily R2
Resistance 1 41.903 Daily R1
Support 1 40.917 Daily S1
Support 2 40.548 Daily S2

CRUDEOIL Indicator Table - 18/09/2020

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

CRUDEOIL Indicator / Period Table - 18/09/2020

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

CRUDEOIL 18/09/2020 - Reference Price : 41.410

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