CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Crude Oil Analysis

EU Session Analysis for CFD Instruments 23/09/2021

Fundamental analysis

23 September, 2021

Oil prices rose on Thursday, extending strong gains overnight with fuel demand growing and crude stocks declining as production remains hampered in the U.S. Gulf of Mexico after two hurricanes. The market was also supported by a broader switch back into risk assets as concerns eased over a potential default by huge property developer China Evergrande and the possible fallout on the world's second-largest economy. Both benchmark contracts jumped 2.5% on Wednesday after data from the U.S. Energy Information Administration showed U.S. crude stocks fell by 3.5 million barrels to 414 million barrels in the week to Sept. 17, the lowest since October 2018, in a bigger drawdown than analysts had expected.

Technical analysis

Crude Oil Analysis Technical analysis 23/09/2021
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 23/09/2021

Support & Resistance Level Explanation
Resistance 2 73.690 Daily R2
Resistance 1 73.180 Daily R1
Support 1 71.820 Daily S1
Support 2 71.310 Daily S2

CRUDEOIL Indicator Table - 23/09/2021

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

CRUDEOIL Indicator / Period Table - 23/09/2021

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

CRUDEOIL 23/09/2021 - Reference Price : 72.500

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (0)
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