CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 all your money. Read full risk warning.

Crude Oil Analysis

US Session Analysis for CFD Instruments 18/02/2021

Fundamental analysis

18 February, 2021

Oil prices erased early gains after Brent hit a new 13-month high above $65 a barrel on Thursday, as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying. Texas’ freeze entered a sixth day on Thursday, as the largest energy-producing state in the United States grappled with massive refining outages and oil and gas shut-ins that rippled beyond its borders into neighbouring Mexico. About 4 million barrels of daily refining capacity has been shuttered and at least 1 million barrels per day of oil production is also out. U.S. crude oil stocks fell by 5.8 million barrels in the week to Feb. 12 to about 468 million barrels, compared with analysts’ expectations for a draw of 2.4 million barrels, American Petroleum Institute data showed.

Technical analysis

Crude Oil Analysis Technical analysis 18/02/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 18/02/2021

Support & Resistance Level Explanation
Resistance 2 62.281 Daily R2
Resistance 1 61.831 Daily R1
Support 1 60.629 Daily S1
Support 2 60.179 Daily S2

CRUDEOIL Indicator Table - 18/02/2021

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 - 18/02/2021

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

CRUDEOIL 18/02/2021 - Reference Price : 61.230

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