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 19/07/2021

Fundamental analysis

19 July, 2021

Oil prices recouped some losses on Monday, but were still down after OPEC+ overcame internal divisions and agreed to boost output, which sparked concerns about a crude surplus as COVID-19 infections continue to rise in many countries. OPEC+ ministers agreed on Sunday to increase oil supply from August to cool prices that earlier this month climbed to the highest in around 2-1/2 years as the global economy recovers from the COVID-19 pandemic. The group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, agreed new production shares from May 2022.

Technical analysis

Crude Oil Analysis Technical analysis 19/07/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 19/07/2021

Support & Resistance Level Explanation
Resistance 2 70.895 Daily R2
Resistance 1 70.396 Daily R1
Support 1 68.734 Daily S1
Support 2 68.145 Daily S2

CRUDEOIL Indicator Table - 19/07/2021

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

CRUDEOIL Indicator / Period Table - 19/07/2021

Indicator / Period Day - SellWeek - SellMonth - Buy
MACD( 12;26;9) Sell NeutralBuy
RSI (14) Sell SellBuy
SMA 20 Sell SellBuy

CRUDEOIL 19/07/2021 - Reference Price : 69.520

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