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. 70.41% 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 14/02/2023

Fundamental analysis

14 February, 2023

Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be cancelled or delayed. The U.S. Department of Energy (DOE) said after the previous session ended that it would sell 26 million barrels of oil from the SPR, a release that would likely push the reserve to its lowest level since 1983. The move surprised traders who were expecting to hear that the DOE had begun to refill its reserves. Supply concerns also eased after the Energy Information Administration said it expected record March production from the seven biggest U.S. shale basins.

Technical analysis

Crude Oil Analysis Technical analysis 14/02/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 14/02/2023

Support & Resistance Level Explanation
Resistance 2 81.45 Daily R2
Resistance 1 80.73 Daily R1
Support 1 78.81 Daily S1
Support 2 78.09 Daily S2

CRUDEOIL Indicator Table - 14/02/2023

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

CRUDEOIL Indicator / Period Table - 14/02/2023

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

CRUDEOIL 14/02/2023 - Reference Price : 79.62

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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