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 20/08/2021

Fundamental analysis

20 August, 2021

Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year. The approaching end of the U.S. peak gasoline demand season and end of summer holidays in Europe and the United States are also set to sap oil demand.

Technical analysis

Crude Oil Analysis Technical analysis 20/08/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 20/08/2021

Support & Resistance Level Explanation
Resistance 2 64.422 Daily R2
Resistance 1 63.800 Daily R1
Support 1 62.140 Daily S1
Support 2 61.518 Daily S2

CRUDEOIL Indicator Table - 20/08/2021

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 - 20/08/2021

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

CRUDEOIL 20/08/2021 - Reference Price : 62.970

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