CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 29/07/2021

Fundamental analysis

29 July, 2021

Oil prices rose on Thursday as crude stockpiles in the United States, the world’s top oil consumer, fell to their lowest since January 2020, with Brent crude oil prices pushing back past $75 a barrel. Crude inventories fell by 4.1 million barrels in the week to July 23, the U.S. Energy Information Administration (EIA) said, helped by lower imports and a decline in weekly production. Gasoline stocks also dropped, bringing them largely in line with pre-pandemic levels.

Technical analysis

Crude Oil Analysis Technical analysis 29/07/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 29/07/2021

Support & Resistance Level Explanation
Resistance 2 73.59 Daily R2
Resistance 1 73.18 Daily R1
Support 1 72.10 Daily S1
Support 2 71.69 Daily S2

CRUDEOIL Indicator Table - 29/07/2021

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

CRUDEOIL Indicator / Period Table - 29/07/2021

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

CRUDEOIL 29/07/2021 - Reference Price : 72.55

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