CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.41% 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 16/03/2021

Fundamental analysis

16 March, 2021

Oil prices dropped on Tuesday, extending declines to three consecutive days, as rising stockpiles in the United States added to the risks to a demand recovery after countries including Germany and France halted COVID-19 vaccinations. These moves are deepening concerns about a slow pace of vaccinations in the European Union, which may delay any economic recovery from the pandemic in one of the hardest-hit areas. The pandemic eviscerated demand for oil but prices have recovered to levels seen before the global health crisis, only to be capped as vaccination rollouts have been slow in most countries.

Technical analysis

Crude Oil Analysis Technical analysis 16/03/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/03/2021

Support & Resistance Level Explanation
Resistance 2 65.76 Daily R2
Resistance 1 65.24 Daily R1
Support 1 63.82 Daily S1
Support 2 63.30 Daily S2

CRUDEOIL Indicator Table - 16/03/2021

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

CRUDEOIL Indicator / Period Table - 16/03/2021

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

CRUDEOIL 16/03/2021 - Reference Price : 64.63

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