CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 28/02/2023

Fundamental analysis

28 February, 2023

Oil prices were steady in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes potentially hurting demand in the world's biggest economy. Expectations of a demand recovery in China underpinned gains, with the market awaiting key data over the next two days. Economists polled by Reuters expected factory activity in the world's second-largest economy grew in February. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds.

Technical analysis

Crude Oil Analysis Technical analysis 28/02/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 28/02/2023

Support & Resistance Level Explanation
Resistance 2 77.69 Daily R2
Resistance 1 77.03 Daily R1
Support 1 75.29 Daily S1
Support 2 74.63 Daily S2

CRUDEOIL Indicator Table - 28/02/2023

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

CRUDEOIL Indicator / Period Table - 28/02/2023

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

CRUDEOIL 28/02/2023 - Reference Price : 76.18

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