CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

Crude Oil Analysis

US Session Analysis for CFD Instruments 23/07/2021

Fundamental analysis

23 July, 2021

Oil fell further below $74 a barrel on Friday but was on track to end the week largely unchanged after rebounding from a sharp drop on Monday, underpinned by expectations that supply will remain tight as demand recovers. The price of oil and other riskier assets tumbled at the start of the week on concern about the impact on the economy and demand from surging cases of the COVID-19 Delta variant in the United States, Britain, Japan and elsewhere.

Technical analysis

Crude Oil Analysis Technical analysis 23/07/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 23/07/2021

Support & Resistance Level Explanation
Resistance 2 73.977 Daily R2
Resistance 1 73.005 Daily R1
Support 1 70.415 Daily S1
Support 2 69.443 Daily S2

CRUDEOIL Indicator Table - 23/07/2021

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

CRUDEOIL Indicator / Period Table - 23/07/2021

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

CRUDEOIL 23/07/2021 - Reference Price : 71.710

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