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.
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Crude Oil Analysis

US Session Analysis for CFD Instruments 13/12/2024

Fundamental analysis

13 December, 2024

Crude Oil rose above the mark of $70.50 level in the European session, testing fresh three-week highs.

Crude Oil prices have been trending upward since this morning, driven by a larger-than-expected decline in U.S. crude oil inventories and additional support from a new round of EU sanctions, which are expected to further tighten Russian oil supply. Adding to the bullish sentiment, ongoing concerns about geopolitical tensions and potential supply disruptions continue to support the oil market. Today at 18:00 GMT, new US Oil Rig Count data will be released.

Technical analysis

Crude Oil Analysis Technical analysis 13/12/2024
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 13/12/2024

Support & Resistance Level Explanation
Resistance 2 71.96 Daily R2
Resistance 1 71.46 Daily R1
Support 1 70.16 Daily S1
Support 2 69.66 Daily S2

CRUDEOIL Indicator Table - 13/12/2024

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 - 13/12/2024

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Buy SellSell
RSI (14) Buy SellSell
SMA 20 Buy SellSell

CRUDEOIL 13/12/2024 - Reference Price : 70.80

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