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. 70.91% 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 29/03/2021

Fundamental analysis

29 March, 2021

Oil fell on Monday as a container ship blocking the Suez Canal for nearly a week was partially refloated raising hopes the busy waterway would soon be reopened and as fuel demand in Europe stayed weak. Prices have swung wildly in the last few days as traders and investors tried to weigh the impact of the blockage of a key trade transit point and the broader effect of lockdowns to stop coronavirus infections. The market is getting some support from expectations that the Organization of the Petroleum Exporting Countries and its allies will maintain lower output levels when they meet this week.

Technical analysis

Crude Oil Analysis Technical analysis 29/03/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 29/03/2021

Support & Resistance Level Explanation
Resistance 2 63.615 Daily R2
Resistance 1 62.674 Daily R1
Support 1 60.166 Daily S1
Support 2 59.225 Daily S2

CRUDEOIL Indicator Table - 29/03/2021

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

CRUDEOIL Indicator / Period Table - 29/03/2021

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

CRUDEOIL 29/03/2021 - Reference Price : 61.420

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