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 04/05/2021

Fundamental analysis

04 May, 2021

Oil prices rose on Tuesday after more U.S. states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as COVID-19 cases soar. Prices are being supported by the prospect of a pick-up in fuel demand in the United States and Europe, as New York state, New Jersey and Connecticut were set to ease pandemic curbs and the European Union planned to open up to more foreign visitors who have been vaccinated, analysts said. For further signs of rising U.S. oil demand, traders will be watching for reports on crude and product stockpiles from the American Petroleum Institute on Tuesday and the U.S. Energy Information Administration on Wednesday.

Technical analysis

Crude Oil Analysis Technical analysis 04/05/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 04/05/2021

Support & Resistance Level Explanation
Resistance 2 66.806 Daily R2
Resistance 1 66.298 Daily R1
Support 1 64.942 Daily S1
Support 2 64.434 Daily S2

CRUDEOIL Indicator Table - 04/05/2021

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 - 04/05/2021

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

CRUDEOIL 04/05/2021 - Reference Price : 65.620

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