Crude Oil Analysis

US Session Analysis for CFD Instruments 11/06/2024

Fundamental analysis

11 June, 2024

Crude Oil is trading today in the European session around the $77 level.

Oil prices held steady on Tuesday around the $77 mark as investors anticipated significant U.S. inflation data and the Federal Reserve's policy meeting for clues on future inflation and fuel demand.

This followed a 3% increase on Monday, which pushed prices to a one-week high amid expectations of heightened summer fuel demand.

However, analysts cautioned that this surge might be short-lived due to the potential for interest rate hikes, which could dampen economic activity and reduce fuel consumption.

Investors are closely monitoring these developments to better understand the future trajectory of oil prices and overall market trends.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 11/06/2024

Support & Resistance	Level	Explanation
Resistance 2	78.60	Daily R2
Resistance 1	78.07	Daily R1
Support 1	76.63	Daily S1
Support 2	76.10	Daily S2

CRUDEOIL Indicator Table - 11/06/2024

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 - 11/06/2024

Indicator / Period	Day - Buy	Week - Buy	Month - Sell
MACD( 12;26;9)	Buy	Sell	Buy
RSI (14)	Buy	Buy	Sell
SMA 20	Buy	Buy	Sell

CRUDEOIL 11/06/2024 - Reference Price : 77.35

Buy

Simple Moving Average	Buy (3)	Sell (0)
Technical Indicators - Oscillators	Buy (3)	Sell (0)

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