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 23/01/2023

Fundamental analysis

23 January, 2023

Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year. Data shows a solid pick-up in travel in China after COVID-19 curbs were eased, ANZ commodity analysts said in a note, pointing to a 22% jump in road traffic congestion so far this month from a year earlier in the country's 15 key cities. The European Union and Group of Seven (G7) coalition will cap prices of Russian refined products starting on Feb. 5, in addition to their price cap on Russian crude in place since December and an EU embargo on imports of Russian crude by sea.

Technical analysis

Crude Oil Analysis Technical analysis 23/01/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 23/01/2023

Support & Resistance Level Explanation
Resistance 2 83.215 Daily R2
Resistance 1 82.471 Daily R1
Support 1 80.489 Daily S1
Support 2 79.745 Daily S2

CRUDEOIL Indicator Table - 23/01/2023

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

CRUDEOIL Indicator / Period Table - 23/01/2023

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

CRUDEOIL 23/01/2023 - Reference Price : 81.480

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