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.
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Crude Oil Analysis

EU Session Analysis for CFD Instruments 11/07/2024

Fundamental analysis

11 July, 2024

Crude Oil is trading today in the Asian session above the $82 level.

Oil prices increased in Asian trading on Thursday, continuing their recent upward trend as a weaker dollar ahead of key U.S. inflation data supported prices, while expectations of tighter global supplies persisted.

The dollar experienced significant losses this week, with attention largely shifting to the upcoming consumer price index inflation data for more insights on U.S. interest rates.

Data indicating an unexpected draw in U.S. oil inventories boosted crude markets, although a substantial build in distillates tempered overall optimism about tighter supplies. Additionally, weak inflation data from China, the top oil importer, dampened sentiment towards oil.

Technical analysis

Crude Oil Analysis Technical analysis 11/07/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 11/07/2024

Support & Resistance Level Explanation
Resistance 2 83.69 Daily R2
Resistance 1 83.23 Daily R1
Support 1 82.20 Daily S1
Support 2 81.79 Daily S2

CRUDEOIL Indicator Table - 11/07/2024

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

CRUDEOIL Indicator / Period Table - 11/07/2024

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

CRUDEOIL 11/07/2024 - Reference Price : 82.76

Buy
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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Risk Warning and Disclaimer: 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. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: 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 your money. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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