CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Crude Oil Analysis

US Session Analysis for CFD Instruments 07/03/2024

Fundamental analysis

07 March, 2024

Crude oil is trading lower today but still above 78.5. Upbeat Chinese trade data as well as large draws in fuel inventories are still giving support to the price preventing larger losses. Later today, Fed Chair Powell will resume his testimony before Congress which can increase volatility in the US dollar and consequently on crude oil prices.

Technical analysis

Crude Oil Analysis Technical analysis 07/03/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 07/03/2024

Support & Resistance Level Explanation
Resistance 2 79.99 Daily R2
Resistance 1 79.35 Daily R1
Support 1 77.65 Daily S1
Support 2 77.01 Daily S2

CRUDEOIL Indicator Table - 07/03/2024

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

CRUDEOIL Indicator / Period Table - 07/03/2024

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

CRUDEOIL 07/03/2024 - Reference Price : 78.58

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