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 03/02/2022

Fundamental analysis

03 February, 2022

Oil prices eased on Thursday following weak U.S. payrolls data and some profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Opec+ agreed on Wednesday to stick to moderate rises of 400,000 barrels per day (bpd) in its oil output, with the group already struggling to meet existing targets and despite pressure from top consumers to raise output more quickly. US crude stockpiles fell by 1-million barrels last week, the US Energy Information Administration said on Wednesday, against expectations for an increase.

Technical analysis

Crude Oil Analysis Technical analysis 03/02/2022
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 03/02/2022

Support & Resistance Level Explanation
Resistance 2 88.652 Daily R2
Resistance 1 87.948 Daily R1
Support 1 86.072 Daily S1
Support 2 85.368 Daily S2

CRUDEOIL Indicator Table - 03/02/2022

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

CRUDEOIL Indicator / Period Table - 03/02/2022

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

CRUDEOIL 03/02/2022 - Reference Price : 87.010

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