CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 29/01/2024

Fundamental analysis

29 January, 2024

Crude oil is trading today at 77.91.
Crude oil futures traded higher on Monday morning following the escalation of tensions in the Middle East region. This created apprehensions in the market over disruptions in the supply of crude oil from the region.
The US administration said on Sunday that three members from the US forces were killed and several others were injured following a drone attack on the US forces in northern Jordan.
The US President, Joe Biden, said Iran-backed groups are responsible for this attack on the US forces. “Have no doubt - we will hold all those responsible to account at a time and in a manner of our choosing,” Biden said. This attack is one of the major attacks on US forces after the Israel-Hamas war started in October.

Technical analysis

Crude Oil Analysis Technical analysis 29/01/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 29/01/2024

Support & Resistance Level Explanation
Resistance 2 79.66 Daily R2
Resistance 1 78.99 Daily R1
Support 1 77.21 Daily S1
Support 2 76.54 Daily S2

CRUDEOIL Indicator Table - 29/01/2024

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 - 29/01/2024

Indicator / Period Day - BuyWeek - BuyMonth - Sell
MACD( 12;26;9) Buy BuySell
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

CRUDEOIL 29/01/2024 - Reference Price : 78.10

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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