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 22/11/2022

Fundamental analysis

22 November, 2022

Oil prices inched higher on Tuesday as the dollar eased, but global recession worries and concerns about China's rising COVID-19 case numbers denting demand from the world's top crude oil importer weighed on sentiment. Both benchmarks had dived more than $5 a barrel on Monday, hitting 10-month lows, after the Wall Street Journal (WSJ) reported an increase of up to 500,000 barrels per day would be considered at the OPEC+ meeting on Dec. 4. Prices rebounded quickly in full after Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is sticking with output cuts and not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying the WSJ report.

Technical analysis

Crude Oil Analysis Technical analysis 22/11/2022
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 22/11/2022

Support & Resistance Level Explanation
Resistance 2 82.919 Daily R2
Resistance 1 81.634 Daily R1
Support 1 78.206 Daily S1
Support 2 76.921 Daily S2

CRUDEOIL Indicator Table - 22/11/2022

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 - 22/11/2022

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

CRUDEOIL 22/11/2022 - Reference Price : 79.920

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Crude OIL Chart
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