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 ...

CCI indicator (Commodity Channel Index)

 

Commodity Channel Index (CCI) is translated as "Commodity Channel Index". This non-normalized oscillator was developed by stock trader Donald Lambert, who used CCI to trade the commodity markets. The Commodity Channel Index indicator helps to determine the current state of a financial instrument: overbought or oversold.


The CCI indicator evaluates the current relationship between the price and the simple Moving Average (MA). In other words, the indicator shows the deviation of the instrument's price from its average values. Maximum CCI values ​​indicate that quotes have risen significantly and deviated upward from average prices, while minimum values ​​indicate that quotes have already fallen quite strongly and deviated downward from average prices.