CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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. 73.43% 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

US Session Analysis for CFD Instruments 14/07/2023

Fundamental analysis

14 July, 2023

Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week of gains for the first time since April. On Thursday some oilfields in Libya were shut down because of a local tribe's protest against the kidnapping of a former minister. Separately, Shell suspended loadings of Nigeria's Forcados crude oil owing to a potential leak at a terminal.

Technical analysis

Crude Oil Analysis Technical analysis 14/07/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 14/07/2023

Support & Resistance Level Explanation
Resistance 2 78.134 Daily R2
Resistance 1 77.558 Daily R1
Support 1 76.022 Daily S1
Support 2 75.446 Daily S2

CRUDEOIL Indicator Table - 14/07/2023

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 - 14/07/2023

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

CRUDEOIL 14/07/2023 - Reference Price : 76.790

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