Trading Oil Interpret Different Types of Oil Trading Charts

Crude Oil Trade Different Types of Oil Trading Charts

There are three types of oil charts: Line oil chart, bar oil chart & candlestick oil trading chart.

Oil Candlesticks Trading Charts - the oil candles trading charts use the same crude oil price data as oil bar oil charts (open, high, low, and close). However, oil candles trading charts represent the charts in a much more easily identifiable way which resembles a candle with wicks on both ends.

How Do I Read Candlesticks Oil Trading Charts?

The rectangle part of the candle is called the body.

The high & low are described as shadows & are drawn as poking lines.

Analyze Different Types of Oil Trading Charts? - How Do You Read Different Types of Oil Trading Charts?

The color of the oil trading candlestick is either blue or red

• (Blue or Green Color candlestick) - Oil Trading price moved up
• (Red Color candlestick) - Oil Trading price moved down

Most oil trading platforms like the MT4 crude oil trading software, use colors to mark the direction of the oil price. Colors used are blue or green: - green oil candlestick when crude oil price moves up, red oil candlestick when crude oil price moves down.

What's Line Crude Oil Trading Charts?

A line oil chart in Oil Trading draws the closing crude oil price of a crude oil and connects this closing crude oil price to the closing crude oil price of the next trading period hence forming a continuous oil line oil chart that draws the movement of oil price movement.

Line Crude Oil Chart - plots a continuous line connecting closing oil prices of a on the crude oil price chart.

Analyze Different Types of Oil Trading Charts? - How Do You Read Different Types of Oil Trading Charts?

What's Bar Oil Trading Charts?

Bar Oil Trading Charts are charts representation of the oil price displayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW & CLOSE. The Opening crude oil price is displayed as a horizontal dash on left and closing crude oil price as a horizontal dash on the right.

Oil Analyze Different Types of Oil Trading Charts

How to Crude Oil Trade Different Types of Oil Trading Charts