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 09/02/2022

Fundamental analysis

09 February, 2022

Oil prices slipped for a third session on Wednesday on profit taking due to concerns of a possible rise in supplies from Iran despite industry data showing a surprise drop in U.S. oil inventories. The contracts slid about 2% on Tuesday as Washington resumed indirect talks with Iran to revive a nuclear deal. Such a deal could lift U.S. sanctions on Iranian oil and quickly add supplies to the market, although a number of vital issues still need to be ironed out. U.S. crude, gasoline and distillate stocks fell last week, according to market sources citing American Petroleum Institute figures on Tuesday. Crude inventories fell 2 million barrels, according to API, versus analysts' expectations of a 400,000-barrel increase.

Technical analysis

Crude Oil Analysis Technical analysis 09/02/2022
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 09/02/2022

Support & Resistance Level Explanation
Resistance 2 90.780 Daily R2
Resistance 1 89.910 Daily R1
Support 1 87.590 Daily S1
Support 2 86.720 Daily S2

CRUDEOIL Indicator Table - 09/02/2022

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

CRUDEOIL Indicator / Period Table - 09/02/2022

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

CRUDEOIL 09/02/2022 - Reference Price : 88.750

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