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 14/06/2023

Fundamental analysis

14 June, 2023

Oil prices inched up slightly in Asian morning trade on Wednesday as investors awaited the outcome of the U.S. Federal Reserve's June meeting, key economic data from China and government data on U.S. crude stockpiles. Both benchmarks climbed more than 3% on Tuesday on hopes of rising fuel demand after China's central bank lowered a short-term lending rate. On the supply side, U.S. crude oil stocks rose by about 1 million barrels in the week ended June 9, according to market sources citing American Petroleum Institute figures, contrary to an average estimate for a 500,000 barrel decline from analysts polled by Reuters.

Technical analysis

Crude Oil Analysis Technical analysis 14/06/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 14/06/2023

Support & Resistance Level Explanation
Resistance 2 71.786 Daily R2
Resistance 1 70.952 Daily R1
Support 1 68.728 Daily S1
Support 2 67.894 Daily S2

CRUDEOIL Indicator Table - 14/06/2023

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

CRUDEOIL Indicator / Period Table - 14/06/2023

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

CRUDEOIL 14/06/2023 - Reference Price : 69.840

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