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Crude Oil Analysis

US Session Analysis for CFD Instruments 10/06/2021

Fundamental analysis

10 June, 2021

Oil prices were stable on Thursday as inventory data in the United States, the world’s top oil consumer, showed a surge in gasoline stocks that indicated weaker-than-expected fuel demand at the start of summer, the country’s peak season for motoring. Crude inventories that exclude the SPR fell by 5.2 million barrels in the week to June 4 to 474 million barrels, the third consecutive weekly drop. But fuel stocks were up sharply, with product supplied falling to 17.7 million barrels per day (bpd) versus 19.1 million the week before.

Technical analysis

Crude Oil Analysis Technical analysis 10/06/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 10/06/2021

Support & Resistance Level Explanation
Resistance 2 70.908 Daily R2
Resistance 1 70.510 Daily R1
Support 1 69.450 Daily S1
Support 2 69.052 Daily S2

CRUDEOIL Indicator Table - 10/06/2021

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

CRUDEOIL Indicator / Period Table - 10/06/2021

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

CRUDEOIL 10/06/2021 - Reference Price : 69.980

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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