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 22/11/2023

Fundamental analysis

22 November, 2023

Crude oil is trading at around 77.05. Crude oil futures traded lower on Wednesday morning as data from API showed a massive increase in crude oil inventories in the US for the week ending November 17. Crude oil inventories in the US increased by around 9 million barrels for the week ending November 17. The market was expecting this growth to be around 1.4 million barrels. According to API data, crude oil inventories went up by around 1.33 million barrels for the week ending November 10.

Technical analysis

Crude Oil Analysis Technical analysis 22/11/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 22/11/2023

Support & Resistance Level Explanation
Resistance 2 78.65 Daily R2
Resistance 1 77.85 Daily R1
Support 1 75.695 Daily S1
Support 2 74.89 Daily S2

CRUDEOIL Indicator Table - 22/11/2023

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

CRUDEOIL Indicator / Period Table - 22/11/2023

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

CRUDEOIL 22/11/2023 - Reference Price : 76.77

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