CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70.41% 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 19/01/2023

Fundamental analysis

19 January, 2023

Oil futures fell as much as $1 on Thursday over recession fears as a sharp decline in U.S. retail sales and manufacturing output muddied the outlook for demand, while industry data showing a surprise jump in U.S. crude stocks also weighed on prices. U.S. December retail sales fell by the most in a year, weighed by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023. data from the American Petroleum Institute showed U.S. crude oil inventories rose by about 7.6 million barrels in the week ended Jan. 13, according to market sources. Analysts polled by Reuters had estimated on average that crude inventories fell by about 600,000 barrels.

Technical analysis

Crude Oil Analysis Technical analysis 19/01/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 19/01/2023

Support & Resistance Level Explanation
Resistance 2 80.56 Daily R2
Resistance 1 79.88 Daily R1
Support 1 78.04 Daily S1
Support 2 77.36 Daily S2

CRUDEOIL Indicator Table - 19/01/2023

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

CRUDEOIL Indicator / Period Table - 19/01/2023

Indicator / Period Day - BuyWeek - BuyMonth - Sell
MACD( 12;26;9) Buy BuySell
RSI (14) Buy SellNeutral
SMA 20 Sell BuySell

CRUDEOIL 19/01/2023 - Reference Price : 78.98

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