Crude Oil Analysis

EU Session Analysis for CFD Instruments 08/08/2022

Fundamental analysis

08 August, 2022

Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signaling weak U.S. fuel demand. U.S. crude oil inventories rose unexpectedly last week as exports fell and refiners lowered runs, while gasoline stocks also posted a surprise build as demand slowed, the Energy Information Administration said. On the supply side, ministers for the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, agreed to a small increase in the group’s output target, equal to about 0.1% of global oil demand.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 08/08/2022

Support & Resistance	Level	Explanation
Resistance 2	92.883	Daily R2
Resistance 1	91.442	Daily R1
Support 1	87.598	Daily S1
Support 2	86.157	Daily S2

CRUDEOIL Indicator Table - 08/08/2022

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

CRUDEOIL Indicator / Period Table - 08/08/2022

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

CRUDEOIL 08/08/2022 - Reference Price : 89.520

Sell

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

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