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 26/03/2024

Fundamental analysis

26 March, 2024

Crude Oil is trading slightly lower today from yesterday’s increase opening in the Asian session above the $81 level.

Crude oil futures dipped slightly on Tuesday despite a projected tight supply.

Reports stated that Russia has asked refineries to cut oil output in the second quarter of 2024 to meet lower targets set by OPEC+.

Russia aims to produce 9 million barrels per day, down from 9.5 million in February. Additionally, ongoing drone attacks by Ukraine on Russian refineries, such as the Kuibyshev refinery, are impacting production.

Technical analysis

Crude Oil Analysis Technical analysis 26/03/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 26/03/2024

Support & Resistance Level Explanation
Resistance 2 82.92 Daily R2
Resistance 1 82.47 Daily R1
Support 1 81.27 Daily S1
Support 2 80.82 Daily S2

CRUDEOIL Indicator Table - 26/03/2024

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

CRUDEOIL Indicator / Period Table - 26/03/2024

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

CRUDEOIL 26/03/2024 - Reference Price : 81.87

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