Crude Oil Analysis

EU Session Analysis for CFD Instruments 05/07/2022

Fundamental analysis

05 July, 2022

Crude oil futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. The strike is expected to reduce oil and gas output by 89,000 barrels of oil equivalent per day (boepd), of which gas output makes up 27,500 boepd, Equinor has said. Oil output will be cut by 130,000 barrels per day from Wednesday, the lobby had said, corresponding to around 6.5% of Norway's production, according to a Reuters calculation. Overall, the outlook for demand is also at the forefront of investor concerns amid a broad tightening in global financial conditions as the U.S. Federal Reserve fights rampant inflation with rapid rate increases.

Technical analysis

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 05/07/2022

Support & Resistance	Level	Explanation
Resistance 2	112.884	Daily R2
Resistance 1	111.622	Daily R1
Support 1	108.258	Daily S1
Support 2	106.996	Daily S2

CRUDEOIL Indicator Table - 05/07/2022

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

CRUDEOIL Indicator / Period Table - 05/07/2022

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

CRUDEOIL 05/07/2022 - Reference Price : 109.940

Buy

Simple Moving Average	Buy (2)	Sell (1)
Technical Indicators - Oscillators	Buy (2)	Sell (0)

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