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 06/11/2023

Fundamental analysis

06 November, 2023

Crude oil is trading at around 82.04.
Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
Saudi Arabia confirmed on Sunday it would continue with its additional voluntary cut of 1 million barrels per day (bpd) in December to keep output at around 9 million bpd, a source at the ministry of energy said in a statement.
Russia also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Technical analysis

Crude Oil Analysis Technical analysis 06/11/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 06/11/2023

Support & Resistance Level Explanation
Resistance 2 83.86 Daily R2
Resistance 1 82.96 Daily R1
Support 1 80.58 Daily S1
Support 2 79.68 Daily S2

CRUDEOIL Indicator Table - 06/11/2023

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

CRUDEOIL Indicator / Period Table - 06/11/2023

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

CRUDEOIL 06/11/2023 - Reference Price : 81.65

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