Crude Oil Analysis

US Session Analysis for CFD Instruments 10/06/2024

Fundamental analysis

10 June, 2024

Crude Oil is trading today in the European session above the $75 level.

In European trading on Monday, oil prices experienced a modest increase, stabilising following three consecutive weeks of declines. Traders were eagerly anticipating signals regarding U.S. interest rates and the forthcoming OPEC report.

Last week, crude oil prices had dropped due to a strengthened dollar, driven by unexpectedly robust nonfarm payrolls data. Low trading volumes were observed due to market holidays in China, Australia, and Hong Kong.

The upcoming OPEC report, scheduled for release on Tuesday, will be closely monitored for insights into annual oil demand forecasts.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 10/06/2024

Support & Resistance	Level	Explanation
Resistance 2	77.07	Daily R2
Resistance 1	76.44	Daily R1
Support 1	74.78	Daily S1
Support 2	74.15	Daily S2

CRUDEOIL Indicator Table - 10/06/2024

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

CRUDEOIL Indicator / Period Table - 10/06/2024

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

CRUDEOIL 10/06/2024 - Reference Price : 75.61

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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