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Crude Oil Analysis

US Session Analysis for CFD Instruments 20/11/2020

Fundamental analysis

20 November, 2020

Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the virus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil markets this week. Both benchmarks are up more than 4% so far this week. Prices also found support from expectations the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers - a group known as OPEC+ - will delay a planned production increase.

Technical analysis

Crude Oil Analysis Technical analysis 20/11/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 20/11/2020

Support & Resistance Level Explanation
Resistance 2 42.981 Daily R2
Resistance 1 42.676 Daily R1
Support 1 41.864 Daily S1
Support 2 41.559 Daily S2

CRUDEOIL Indicator Table - 20/11/2020

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 - 20/11/2020

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

CRUDEOIL 20/11/2020 - Reference Price : 42.270

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