CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 23/07/2021

Fundamental analysis

23 July, 2021

Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers. Oil prices, along with other riskier assets, tumbled earlier in the week on concerns about the broad economic impact of surging COVID-19 cases of the Delta variant in the United States, Britain, Japan and elsewhere. Benchmark contracts fell as much as $6 on Monday but have recouped all of those losses as investors expect overall crude demand to stay strong driven by the continued fall in oil stocks and rising rates of vaccinations.

Technical analysis

Crude Oil Analysis Technical analysis 23/07/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 23/07/2021

Support & Resistance Level Explanation
Resistance 2 73.887 Daily R2
Resistance 1 72.915 Daily R1
Support 1 70.325 Daily S1
Support 2 69.353 Daily S2

CRUDEOIL Indicator Table - 23/07/2021

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

CRUDEOIL Indicator / Period Table - 23/07/2021

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

CRUDEOIL 23/07/2021 - Reference Price : 71.620

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