CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.91% 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 16/08/2022

Fundamental analysis

16 August, 2022

Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed fears of a global recession. Oil futures fell about 3% during the previous session. China's central bank cut lending rates to revive demand as the economy slowed unexpectedly in July, with factory and retail activity squeezed by Beijing's zero-COVID policy and a property crisis. Investors also watched talks to revive the 2015 Iran nuclear deal. More oil could enter the market if Iran and the United States accept an offer from the European Union, which would remove sanctions on Iranian oil exports, analysts said. Iran responded to the European Union's "final" draft text to save a 2015 nuclear deal on Monday, an EU official said, but provided no details on Iran's response to the text. The Iranian foreign minister called on the United States to show flexibility to resolve three remaining issues.

Technical analysis

Crude Oil Analysis Technical analysis 16/08/2022
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 16/08/2022

Support & Resistance Level Explanation
Resistance 2 91.023 Daily R2
Resistance 1 89.775 Daily R1
Support 1 86.445 Daily S1
Support 2 85.197 Daily S2

CRUDEOIL Indicator Table - 16/08/2022

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

CRUDEOIL Indicator / Period Table - 16/08/2022

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

CRUDEOIL 16/08/2022 - Reference Price : 88.110

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