Crude Oil Analysis

EU Session Analysis for CFD Instruments 21/07/2021

Fundamental analysis

21 July, 2021

Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand. U.S. crude stocks rose by 806,000 barrels for the week that ended July 16, according to two market sources, citing American Petroleum Institute figures. By comparison, 10 analysts polled by Reuters had estimated, on average, that crude stocks fell by about 4.5 million barrels. Investors are awaiting data from the U.S. Energy Information Administration to see whether it confirms there was an increase in crude inventories, which would end an eight-week streak of inventory drawdowns.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 21/07/2021

Support & Resistance	Level	Explanation
Resistance 2	68.895	Daily R2
Resistance 1	68.019	Daily R1
Support 1	65.681	Daily S1
Support 2	64.805	Daily S2

CRUDEOIL Indicator Table - 21/07/2021

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

CRUDEOIL Indicator / Period Table - 21/07/2021

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

CRUDEOIL 21/07/2021 - Reference Price : 66.850

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (1)	Sell (2)

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