Crude Oil Analysis

US Session Analysis for CFD Instruments 19/06/2024

Fundamental analysis

19 June, 2024

Crude Oil is trading today in the European session below the $81 level.

Crude prices edged lower on Wednesday as an unexpected increase in U.S. crude inventories raised concerns about demand.

According to data from the American Petroleum Institute released late Tuesday, U.S. crude stocks rose by 2.26 million barrels in the week ending June 14, contrary to analysts' expectations of a 2.2 million barrel draw.

Official U.S. inventory data from the Energy Information Administration is scheduled for release on Thursday, a day later than usual due to the U.S. holiday.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 19/06/2024

Support & Resistance	Level	Explanation
Resistance 2	81.68	Daily R2
Resistance 1	81.19	Daily R1
Support 1	79.89	Daily S1
Support 2	79.40	Daily S2

CRUDEOIL Indicator Table - 19/06/2024

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 - 19/06/2024

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

CRUDEOIL 19/06/2024 - Reference Price : 80.54

Buy

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

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