What should I look for in a Oil Trading Chart?
The most popular oil chart types are:
- Line Oil Trading Charts
- Bar Oil Trading Charts
- Candlesticks Oil Trading Charts
The best chart to trade with when you want to start oil trading is the candlesticks crude oil chart. The candlesticks crude oil charts are easy to use and easier to interpret when trading. Beginner traders should start with this type of chart which is easier to use when it comes to technical analysis of oil charts.
Candlesticks - 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 Candles Crude Oil Trading Charts in Oil Trading
The rectangle part is called the body.
The high and low are described as shadows & drawn as poking lines.
What should I look for in a Oil Trading Chart?
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 trading platforms like the MT4 Crude Oil Trading Software, use colors to mark the direction of the candlesticks. Colors used are blue or green: when crude oil price moves up - green candlesticks, when crude oil price moves down - red candles.
