CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.41% 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 10/01/2024

Fundamental analysis

10 January, 2024

Crude oil is trading today at around 72.17.

Oil rose for a second day on Wednesday after an industry report showed a bigger-than-expected drawdown of crude inventories in the United States, the world's biggest oil user, that bolstered demand sentiment.

U.S. crude oil inventories fell by 5.2 million barrels in the week that ended Jan. 5, according to market sources citing American Petroleum Institute figures on Tuesday, compared with analysts' estimates of 700,000 barrels increase in a Reuters poll.

Technical analysis

Crude Oil Analysis Technical analysis 10/01/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 10/01/2024

Support & Resistance Level Explanation
Resistance 2 74.49 Daily R2
Resistance 1 73.58 Daily R1
Support 1 71.18 Daily S1
Support 2 70.27 Daily S2

CRUDEOIL Indicator Table - 10/01/2024

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

CRUDEOIL Indicator / Period Table - 10/01/2024

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellSell
RSI (14) Buy SellSell
SMA 20 Buy SellSell

CRUDEOIL 10/01/2024 - Reference Price : 72.38

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