CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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. 84% 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 05/07/2022

Fundamental analysis

05 July, 2022

Crude oil futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. The strike is expected to reduce oil and gas output by 89,000 barrels of oil equivalent per day (boepd), of which gas output makes up 27,500 boepd, Equinor has said. Oil output will be cut by 130,000 barrels per day from Wednesday, the lobby had said, corresponding to around 6.5% of Norway's production, according to a Reuters calculation. Overall, the outlook for demand is also at the forefront of investor concerns amid a broad tightening in global financial conditions as the U.S. Federal Reserve fights rampant inflation with rapid rate increases.

Technical analysis

Crude Oil Analysis Technical analysis 05/07/2022
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 05/07/2022

Support & Resistance Level Explanation
Resistance 2 112.884 Daily R2
Resistance 1 111.622 Daily R1
Support 1 108.258 Daily S1
Support 2 106.996 Daily S2

CRUDEOIL Indicator Table - 05/07/2022

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

CRUDEOIL Indicator / Period Table - 05/07/2022

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

CRUDEOIL 05/07/2022 - Reference Price : 109.940

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