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. 70.91% 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 06/08/2024

Fundamental analysis

06 August, 2024

Crude Oil is trading today in the European session above the $73 level.

Oil prices pared gains in volatile trade on Tuesday as fears of an escalation in the Middle East conflict and a drop in production at Libya's largest Sharara oilfield raised the prospect of tight supplies. Lower production at Libya's 300,000 barrel-per-day Sharara oil field buoyed prices further. Output at the field, one of the country's largest, has fallen by around 20% due to protests.

Technical analysis

Crude Oil Analysis Technical analysis 06/08/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 06/08/2024

Support & Resistance Level Explanation
Resistance 2 75.32 Daily R2
Resistance 1 74.46 Daily R1
Support 1 72.14 Daily S1
Support 2 71.28 Daily S2

CRUDEOIL Indicator Table - 06/08/2024

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

CRUDEOIL Indicator / Period Table - 06/08/2024

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellBuy
RSI (14) Buy SellNeutral
SMA 20 Sell BuySell

CRUDEOIL 06/08/2024 - Reference Price : 73.60

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Crude OIL Chart
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