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 31/10/2023

Fundamental analysis

31 October, 2023

Crude oil is trading at around 83.05.

According to a recent World Bank study, the rising tensions might exacerbate the already-existing energy market disruptions caused by Russia's war in Ukraine. Additionally, the World Bank forecasts global oil prices to average $90 per barrel this quarter. A “large disruption” scenario would lead to the oil price from about $90 to between $140 and 157.

Technical analysis

Crude Oil Analysis Technical analysis 31/10/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 31/10/2023

Support & Resistance Level Explanation
Resistance 2 85.017 Daily R2
Resistance 1 84.075 Daily R1
Support 1 81.565 Daily S1
Support 2 80.623 Daily S2

CRUDEOIL Indicator Table - 31/10/2023

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

CRUDEOIL Indicator / Period Table - 31/10/2023

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

CRUDEOIL 31/10/2023 - Reference Price : 82.820

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (0)Sell (3)
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Crude OIL Chart
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