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

EU Session Analysis for CFD Instruments 01/11/2023

Fundamental analysis

01 November, 2023

Crude oil is trading at around 81.26.

Crude oil prices continue to move lower, despite strong fundamentals for the commodity. Middle Eastern tensions are still high, and Crude oil demand remains robust while supply is on the decline. With this deficit expected to remain until 2024, and with potential supply disruptions as a result of the conflict, crude oil prices aren’t set to stay depressed for long.

Technical analysis

Crude Oil Analysis Technical analysis 01/11/2023
Time Frame: 1 hour

CRUDEOIL Support & Resistance Table - 01/11/2023

Support & Resistance Level Explanation
Resistance 2 83.199 Daily R2
Resistance 1 82.299 Daily R1
Support 1 79.901 Daily S1
Support 2 79.001 Daily S2

CRUDEOIL Indicator Table - 01/11/2023

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

CRUDEOIL Indicator / Period Table - 01/11/2023

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

CRUDEOIL 01/11/2023 - Reference Price : 81.100

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