CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% 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 all your money. Read full risk warning.

Crude Oil Analysis

EU Session Analysis for CFD Instruments 18/03/2021

Fundamental analysis

18 March, 2021

Oil prices dropped for a fifth day on Thursday after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook. Government data on Wednesday showed U.S. crude inventories have risen for four straight weeks after refineries in the south were forced to shut due to severe cold weather. An industry report estimating a 1 million barrel-drop had raised hopes the run of gains might have stopped. U.S. crude inventories increased by 2.4 million barrels last week, an industry report on Tuesday estimated a 1 million barrel-decline. Analysts had on average expected an increase of 3 million barrels. On the demand front, a number of European countries have halted use of AstraZeneca’s COVID-19 vaccine because of concerns about possible side effects. Germany is also seeing a rise in coronavirus cases, while Italy plans a national lockdown for Easter lockdown and France will introduce tougher restrictions.

Technical analysis

Crude Oil Analysis Technical analysis 18/03/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 18/03/2021

Support & Resistance Level Explanation
Resistance 2 65.536 Daily R2
Resistance 1 65.053 Daily R1
Support 1 63.767 Daily S1
Support 2 63.284 Daily S2

CRUDEOIL Indicator Table - 18/03/2021

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

CRUDEOIL Indicator / Period Table - 18/03/2021

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Sell BuyBuy
RSI (14) Sell BuyBuy
SMA 20 Sell BuyBuy

CRUDEOIL 18/03/2021 - Reference Price : 64.410

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