CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Crude Oil Analysis

US Session Analysis for CFD Instruments 16/04/2021

Fundamental analysis

16 April, 2021

Oil rose above $67 a barrel on Friday, gaining for a fifth session, as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies. Demand hopes offset concern about rising coronavirus cases in other big economies. India’s infection rate hit a record while Germany’s chancellor on Friday said a third virus wave has the country in its grip. Oil has recovered from record lows hit last year as demand collapsed due to the pandemic. It has been helped by record cuts to oil output by OPEC+ producers. OPEC+ agreed on April 1 to ease its oil output cuts from May to July and will meet to consider further tweaks on April 28.

Technical analysis

Crude Oil Analysis Technical analysis 16/04/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/04/2021

Support & Resistance Level Explanation
Resistance 2 64.596 Daily R2
Resistance 1 64.122 Daily R1
Support 1 62.858 Daily S1
Support 2 62.384 Daily S2

CRUDEOIL Indicator Table - 16/04/2021

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 - 16/04/2021

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

CRUDEOIL 16/04/2021 - Reference Price : 63.490

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