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 19/05/2023

Fundamental analysis

19 May, 2023

Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default. U.S. inflation does not seem to be cooling fast enough to allow the Federal Reserve to pause its interest-rate hike campaign, according to two Fed policymakers. The potential for additional rate hikes increases concerns about demand weakness in the United States. There is upside to prices as they expect China's demand to continue improving throughout 2023, which should offset the slowdown in OECD demand. China's oil refinery throughput in April rose 18.9% from a year earlier to the second-highest level on record, data showed earlier this week.

Technical analysis

Crude Oil Analysis Technical analysis 19/05/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 19/05/2023

Support & Resistance Level Explanation
Resistance 2 73.858 Daily R2
Resistance 1 73.255 Daily R1
Support 1 71.645 Daily S1
Support 2 71.042 Daily S2

CRUDEOIL Indicator Table - 19/05/2023

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 - 19/05/2023

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

CRUDEOIL 19/05/2023 - Reference Price : 72.450

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