CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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 07/05/2021

Fundamental analysis

07 May, 2021

Oil prices steadied on Friday and were set for a weekly gain against the backdrop of optimism over a global economic recovery, though the COVID-19 crisis in India capped prices.Both Brent and WTI are on track for second consecutive weekly gains as easing restrictions on movement in the United States and Europe, recovering factory operations and coronavirus vaccinations pave the way for a revival in fuel demand. In China, data showed export growth accelerated unexpectedly in April while a private survey pointed to strong expansion in service sector activity.

Technical analysis

Crude Oil Analysis Technical analysis 07/05/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 07/05/2021

Support & Resistance Level Explanation
Resistance 2 65.880 Daily R2
Resistance 1 65.349 Daily R1
Support 1 63.931 Daily S1
Support 2 63.400 Daily S2

CRUDEOIL Indicator Table - 07/05/2021

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

CRUDEOIL Indicator / Period Table - 07/05/2021

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

CRUDEOIL 07/05/2021 - Reference Price : 64.640

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