How to Read a Oil Candle Trading Chart

Oil Candlestick Trading Charts - these oil candle trading charts use the crude oil price data (open, high, low, and close oil price) to draw crude oil price movement in an identifiable way which resembles a candle with wicks on both ends.

How Do I Interpret Oil Candlestick Trading Charts?

The rectangle part is called the body.

The high & low of oil price are described as shadows which are drawn as poking lines.

How Do You Analyze Oil Candlestick Trading Charts? - How Do I Interpret Oil Candlestick Trading Charts?

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

• Blue Color Candles or Green Color Candlesticks - Oil Trading Prices moved up
• Red Color Candlesticks - Oil Trading Prices moved down

Most trading oil platforms like the MT4 Trading Oil Platform, use colors to mark the direction of the oil price. Oil candlesticks colors used are blue or green - when crude oil price moves up, - color of the oil candlestick is red - when crude oil price moves down.

How Do You Analyze Oil Candlestick Trading Charts?

When oil candles trading charts are used it is very easy to determine if crude oil price moved up or crude oil price moved down as opposed to when oil bar crude oil charts are used.

The Japanese oil candle trading charts trading analysis also have very many crude oil candlesticks patterns that are used to analyze and trade Oil Trading. These crude oil chart patterns have different crude oil analysis & the most common are:

Marubozu & Doji Crude Oil Candlestick Patterns

Spinning Tops Crude Oil Candlestick Patterns

Reversal Patterns Crude Oil Trading Candle Patterns Crude Oil Candlestick Patterns

Inverted Hammer Oil Candle Stick Pattern and Shooting Star Crude Oil Candlestick Patterns

Piercing Line Oil Candle Stick Pattern and Dark Cloud Cover Crude Oil Candlestick Patterns

Morning Star Candlesticks & Evening Star Candlesticks Crude Oil Candlestick Patterns

How Do I Trade Oil Candlestick Trading Charts