Crude Oil Analysis

EU Session Analysis for CFD Instruments 11/01/2019

Fundamental analysis

11 January, 2019

Crude Oil traded stable to slightly lower on Friday morning during the Asian trading session at 52.58, amid concerns over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb. Traders said the declines came on lingering concerns over the health of the global economy. Most analysts have downgraded their global economic growth forecasts below 3% for 2019, with some even fearing a looming recession amid trade disputes and spiraling debt. So far this week Crude has grown 8%. Beyond global economics, oil markets are receiving support from supply cuts led by the Organization of the Petroleum Exporting Countries aimed at reining in a glut that emerged in the second-half of 2018.

Technical analysis

Crude Oil Analysis Technical analysis 11/01/2019
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 11/01/2019

Support & Resistance Level Explanation
Resistance 2 53.64 Daily R2
Resistance 1 52.94 Daily R1
Support 1 52.10 Daily S1
Support 2 51.54 Daily S2

CRUDEOIL Indicator Table - 11/01/2019

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

CRUDEOIL Indicator / Period Table - 11/01/2019

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

CRUDEOIL 11/01/2019 - Reference Price : 52.54

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