Crude Oil Analysis

US Session Analysis for CFD Instruments 27/05/2022

Fundamental analysis

27 May, 2022

During most of the European trade, the price of crude oil has slipped further since this morning. The beginning of the driving season in the USA this weekend, mostly low levels of oil and derivatives, with further decline and uncertainty regarding the EU's decision to impose an embargo on oil imports from Russia, all together, pushes the price of oil up. An official government report on the state of stocks showed the day before yesterday afternoon that the stocks of crude oil in the USA dropped by 1.02 million barrels. On the other hand, the head of the World Bank, David Malpass, warned yesterday that the war in Ukraine could lead to a global recession, given the rise in the prices of energy, food and artificial fertilizers. The EU is still trying to persuade Hungary to agree to sanctions on oil imports from Russia. A meeting of EU leaders will be held on Monday and Tuesday. At around 1:20 p.m., crude oil traded at $ 113.52 a barrel, down 0.41% from trading tonight.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 27/05/2022

Support & Resistance	Level	Explanation
Resistance 2	115.639	Daily R2
Resistance 1	114.714	Daily R1
Support 1	112.246	Daily S1
Support 2	111.321	Daily S2

CRUDEOIL Indicator Table - 27/05/2022

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 - 27/05/2022

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

CRUDEOIL 27/05/2022 - Reference Price : 113.480

Buy

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

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