How to use the EIA oil report in trading

How to use the EIA oil report in trading The content of the article What is an EIA report What data is published in the report How to use the report in trading Long term trading Short term trading Conclusion In this review, we will consider the weekly EIA report on the state of the oil industry, which has a strong influence on black gold quotes. Many traders closely follow his publications and use the information received when trading. What is an EIA report The Energy Information Administration, EIA, is a division of the US Department of Energy established in 1977. It is responsible for the objective collection of energy data, analysis and economic forecasts. Various reports are regularly published that provide information on energy-related topics. For example, reports on energy stocks, demand and prices. The United States is not only a major oil consumer (approximately 20% of world consumption), but also a leading oil producer. The balance of supply and demand in the US gives a rough ...

Ascending Triangle-Восходящий Треугольник

 Ascending Triangle

A triangle is usually formed when the top and bottom of the price move towards each other (similar to the sides of a triangle). The figure is often referred to as a trend continuation pattern. In practice, with a triangle, a trend reversal is possible.


has a horizontal line of resistance. With each wave, the lows are fixed higher, the price range becomes narrower. Usually, to enter a long position, traders take into account the fact of a breakdown of the resistance line or a rollback to it.



"Ascending Triangle" - a pattern of continuation of an uptrend. Formed between the horizontal resistance level and the rising support line. After the price closes above the resistance level, purchases are recommended, the target of working out is the value of the pattern base (H) in points.