Crude Oil Analysis

US Session Analysis for CFD Instruments 12/04/2024

Fundamental analysis

12 April, 2024

Crude Oil is trading slightly higher today in the European session above the $85 level.

Oil prices surged on Friday due to increased tensions in the Middle East, heightening concerns about potential disruptions in oil supply from the region. However, the market is on track for a weekly loss due to expectations of fewer interest rate cuts by the U.S. this year.

The possibility of retaliation from Iran following an attack on its embassy in Damascus by suspected Israeli warplanes on Monday has kept oil prices near a six-month high this week, despite factors like rising U.S. inventories acting as dampeners.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 12/04/2024

Support & Resistance	Level	Explanation
Resistance 2	87.35	Daily R2
Resistance 1	86.80	Daily R1
Support 1	85.32	Daily S1
Support 2	84.77	Daily S2

CRUDEOIL Indicator Table - 12/04/2024

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 - 12/04/2024

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

CRUDEOIL 12/04/2024 - Reference Price : 86.06

Buy

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

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