What are the 3 Types of Crude Oil Trading Charts?

Analyzing Crude Oil Trading Charts

There are 3 types of charts used in Oil Trading: Line Oil Trading Charts, Bar Oil Trading Charts & Candles Oil Trading Charts.

Line Charts - draws continuous line connecting closing oil prices of oil.

Oil Trading Line Charts - What are the 3 Types of Oil Trading Charts?

Bar Oil Trading Charts- 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 Trading Bar Oil Trade Charts - What are the 3 Types of Oil Trading Charts?

Candle Stick Oil Trading Charts - these use the same crude oil price data as bar oil charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle stick with wicks on both ends.

How to Analyze

The rectangle part is called the body.

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

Candlesticks Oil Trading Charts - What are the 3 Types of Oil Charts?

The color of the candlestick is either blue or red

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

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