Crude Oil Analysis

EU Session Analysis for CFD Instruments 16/04/2024

Fundamental analysis

16 April, 2024

Crude Oil is trading slightly lower today in the Asian session above the $85 level.

On Tuesday morning, crude oil futures saw an uptick as the market awaited Israel's reaction to the recent assaults from Iran.

Israel's military leader indicated that they would retaliate against Iran's missile and drone strikes. Despite minimal damage from Iran's weekend attacks on Israel, crude oil trading on Monday experienced a decline as concerns regarding broader conflicts in West Asia eased.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/04/2024

Support & Resistance	Level	Explanation
Resistance 2	86.76	Daily R2
Resistance 1	86.17	Daily R1
Support 1	84.61	Daily S1
Support 2	84.02	Daily S2

CRUDEOIL Indicator Table - 16/04/2024

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

CRUDEOIL Indicator / Period Table - 16/04/2024

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

CRUDEOIL 16/04/2024 - Reference Price : 85.29

Sell

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

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