Crude Oil Analysis

EU Session Analysis for CFD Instruments 30/07/2021

Fundamental analysis

30 July, 2021 Research Department

Oil prices fell on Friday but were on track to post solid gains for the week with demand growing faster than supply, while vaccinations dampen the impact of a resurgence in coronavirus cases worldwide. Both benchmark contracts were headed for gains of around 2% for the week, buoyed by indications of tight crude supplies and strong demand in the United States, the world’s biggest oil consumer. Analysts point to a rapid rebound in India’s gasoline consumption and industrial production following its Covid-19 surge earlier this year as a sign that economies are more resilient to the pandemic.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 30/07/2021

Support & Resistance	Level	Explanation
Resistance 2	73.798	Daily R2
Resistance 1	73.435	Daily R1
Support 1	72.465	Daily S1
Support 2	72.102	Daily S2

CRUDEOIL Indicator Table - 30/07/2021

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

CRUDEOIL Indicator / Period Table - 30/07/2021

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

CRUDEOIL 30/07/2021 - Reference Price : 72.950

Buy

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

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