Crude Oil Analysis

EU Session Analysis for CFD Instruments 25/04/2024

Fundamental analysis

25 April, 2024

Crude Oil is trading today in the Asian session above the $82 level.

Crude oil futures rose Thursday morning following US EIA data showing a decline in oil inventories.

The Petroleum Status Report indicated a 6.4 million barrel drop in US commercial crude oil inventories for the week ending April 19, contrasting with the previous week's 2.73 million barrel increase.

US crude oil inventories stood at 453.6 million barrels, approximately 3% lower than the five-year average for this period.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 25/04/2024

Support & Resistance	Level	Explanation
Resistance 2	84.55	Daily R2
Resistance 1	83.85	Daily R1
Support 1	81.97	Daily S1
Support 2	81.27	Daily S2

CRUDEOIL Indicator Table - 25/04/2024

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

CRUDEOIL Indicator / Period Table - 25/04/2024

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

CRUDEOIL 25/04/2024 - Reference Price : 82.89

Buy

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

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