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 10/08/2021

Fundamental analysis

10 August, 2021

Oil prices rose more than 1% on Tuesday, recouping some of the losses in the previous session when prices hit a three-week low, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand. China on Tuesday reported more COVID-19 infections in the latest outbreak of the disease that was first detected in the country in late 2019, in what analysts said was the biggest test of Beijing’s zero-infection strategy. In the United States, the Senate is set to vote on the passage of a $1 trillion infrastructure bill later on Tuesday, which, if passed would boost the economy and demand for oil products, analysts said.

Technical analysis

Crude Oil Analysis Technical analysis 10/08/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 10/08/2021

Support & Resistance Level Explanation
Resistance 2 69.302 Daily R2
Resistance 1 68.590 Daily R1
Support 1 66.690 Daily S1
Support 2 65.978 Daily S2

CRUDEOIL Indicator Table - 10/08/2021

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

CRUDEOIL Indicator / Period Table - 10/08/2021

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

CRUDEOIL 10/08/2021 - Reference Price : 67.640

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