Crude Oil Price and crude oil Technical Analysis

Weekly Fundamental View on crude oil

The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

In this week the analyst were forecast the crude inventory down by 3.464M Barrels but actual inventory up by 3.295M Barrels that means more supply with weaker demand from the asian and European  markets hence the price will go down in this week.

Weekly Technical View on crude oil

In this week the Crude oil price has broken major support level 44.7.

Now the crude oil price will move in between 47.90-44.3. If it break 44.3 level then crude oil price can fall upto 42.2. I think the crude oil price will be hovering directly in 49.65-44.3. Near 45.4 sold , the overall bearish.

Crude Oil  Summary (Daily)  Sell

Moving Averages Sell Buy(1) Sell(9)
Technical Indicators Sell Buy(0) Sell(8)

Crude oil Technical Summary

Type 5mins. 15mins. Hourly Daily Monthly
Moving Averages Sell Sell Sell Strong Sell Strong
Technical Indicators Sell Strong Buy Sell Strong Sell Sell
Summary Sell Neutral Sell Strong Sell Strong Sell
WTI Crude Oil Price Levels(in USD) Daily
Date S3 S2 S1 Pivot Point R1 R2 R3
12/06/17 45.62 45.75 45.83 45.96 46.09 46.17 46.30
MCX Crude Oil Price Levels(in INR), Daily
Last update on 12 June 2017, 11:45 AM IST
Date S3 S2 S1 Pivot point R1 R2 R3
12/06/17 2884 2908 2924 2948 2972 2988 3012

Today’s crude oil Technical Indicators  (Daily)    

 Last Update on 12 June 2017,11.47 AM IST

Name Value Signal
RSI(14) 37.56 SELL
STOCH(9,6) 22.55 SELL
STOCHRSI(14) 50.39 Neutral
MACD(12,26) -129.32 SELL
ADX(14) 53.69 SELL
Williams%R -73.25 SELL
ATR(14) 85.21 LESS VOLATILE
Highs/Lows(14) -83.14 SELL
ROC -10.38 SELL
Bull/Bear Power(13) -150.48 SELL
Buy:  0        Sell:  8     Neutral: 1

Result: STRONG SELL

Today’s MCX Crude Oil Moving Averages

Last Update on  12 June 2017, 11.45 AM IST

Period Exponential Moving Average 
EMA5 2746.92                     BUY
EMA10 2800.50                     SELL
EMA20 2905.75                     SELL
EMA50 3005.92                     SELL
EMA100 2960.62                     SELL
EMA200 2910.63                     SELL
BUY: 1      SELL: 5

RESULT-  SELL