CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

Crude Oil Analysis

EU Session Analysis for CFD Instruments 16/09/2020

Fundamental analysis

16 September, 2020

Oil prices rose on Wednesday, extending gains from the previous session, as a hurricane disrupted U.S. offshore oil and gas production and an industry report showed a big drop in U.S. crude stockpiles. Both contracts rose by more than 2% on Tuesday. More than 25% of U.S. offshore oil and gas output was shut and export ports were closed on Tuesday as Hurricane Sally sat just off the U.S. Gulf Coast. U.S. crude oil inventories fell by 9.5 million barrels last week, although gasoline inventories increased, data from industry group the American Petroleum Institute showed on Tuesday. Analysts had expected oil stocks to increase by 1.3 million barrels. Official data on U.S. stockpiles is due out later on Wednesday and often conflicts with the industry figures.

Technical analysis

Crude Oil Analysis Technical analysis 16/09/2020
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/09/2020

Support & Resistance Level Explanation
Resistance 2 39.835 Daily R2
Resistance 1 39.550 Daily R1
Support 1 38.790 Daily S1
Support 2 38.505 Daily S2

CRUDEOIL Indicator Table - 16/09/2020

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

CRUDEOIL Indicator / Period Table - 16/09/2020

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

CRUDEOIL 16/09/2020 - Reference Price : 39.170

Buy
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (3)Sell (0)
Share It With Your Network
Crude OIL Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now