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 18/08/2021

Fundamental analysis

18 August, 2021

Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide. U.S. shale oil production is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since April 2020, according to the government's Energy Information Administration's monthly drilling output report. Yesterday API data was slightly below expectations showing -1.16 mln vs -1.25 mln. A firmer dollar was also negative for Crude.

Technical analysis

Crude Oil Analysis Technical analysis 18/08/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 18/08/2021

Support & Resistance Level Explanation
Resistance 2 67.884 Daily R2
Resistance 1 67.338 Daily R1
Support 1 65.882 Daily S1
Support 2 65.336 Daily S2

CRUDEOIL Indicator Table - 18/08/2021

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

CRUDEOIL Indicator / Period Table - 18/08/2021

Indicator / Period Day - SellWeek - SellMonth - Buy
MACD( 12;26;9) Sell SellBuy
RSI (14) Sell SellNeutral
SMA 20 Sell SellSell

CRUDEOIL 18/08/2021 - Reference Price : 66.610

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (0)Sell (3)
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Crude OIL Chart
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