Crude Oil Analysis

US Session Analysis for CFD Instruments 29/04/2022

Fundamental analysis

29 April, 2022

During Asian trade, the price of crude oil is rising. Russia suspends natural gas deliveries to Poland and Bulgaria, due to the fact that these two countries did not pay the bills issued in rubles. An official government report on the state of crude oil and oil products stocks in the United States showed on Wednesday afternoon that crude oil stocks in the United States rose by 0.69 million barrels (expected growth of 2 million). By the way, global demand is growing, except for the temporary emergency situation in China due to the spread of COVID-19. Fears of supply disruptions, as Western sanctions affect Russia's exports of crude oil and products, support crude oil prices. Early this morning, crude oil traded at $ 106 a barrel, up 1.7% from the start of trading last night. A meeting of EU energy ministers is scheduled for May 2, at which the current situation on the European energy market will be discussed.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 29/04/2022

Support & Resistance	Level	Explanation
Resistance 2	109.698	Daily R2
Resistance 1	108.315	Daily R1
Support 1	104.625	Daily S1
Support 2	103.242	Daily S2

CRUDEOIL Indicator Table - 29/04/2022

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

CRUDEOIL Indicator / Period Table - 29/04/2022

Indicator / Period	Day - Buy	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Neutral	Buy
RSI (14)	Buy	Buy	Buy
SMA 20	Buy	Buy	Buy

CRUDEOIL 29/04/2022 - Reference Price : 106.470

Buy

Simple Moving Average	Buy (3)	Sell (0)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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