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Crude Oil Analysis

EU Session Analysis for CFD Instruments 14/02/2020

Fundamental analysis

14 February, 2020

Oil prices edged higher during the Asian session on Friday morning, trading at 51.45 and remained set for their first modest weekly gain in six weeks on the assumption that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic. Crude prices have plunged about 20% from their 2020 peaks on Jan. 8 as oversupply concerns combined with worries about large fuel demand declines in China as the country's quarantine to fight the coronavirus outbreak has stymied economic activity. In response to the demand slump, OPEC and its allied producers, known as OPEC+, are considering cutting output by up to 2.3 million barrels per day. The International Energy Agency on Thursday said that first quarter 2020 oil demand is set to fall versus a year earlier for the first time since the financial crisis in 2009 because of the coronavirus outbreak in China.

Technical analysis

Crude Oil Analysis Technical analysis 14/02/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 14/02/2020

Support & Resistance Level Explanation
Resistance 2 52.08 Daily R2
Resistance 1 51.78 Daily R1
Support 1 51.10 Daily S1
Support 2 50.85 Daily S2

CRUDEOIL Indicator Table - 14/02/2020

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

CRUDEOIL Indicator / Period Table - 14/02/2020

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

CRUDEOIL 14/02/2020 - Reference Price : 51.45

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