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 ...

Graphic pattern "Rectangle"-Графический паттерн "Прямоугольник"


 Rectangle




The rectangle shape (range, corridor, consolidation) on the chart is formed from horizontal support and resistance lines. The quote falls into the range after strong price impulses. The longer the price is in the range, the higher the probability of breaking the border.


The universal "Rectangle" pattern can portend both a reversal and a continuation of the current trend. It looks like a side corridor in which the price chart is consolidating, limited by horizontal support and resistance levels. It is recommended to trade in the direction of breaking through the pattern - if the price closes above the resistance level - buy, if the price closes below the support level - sell. The purpose of working out is the height of the pattern (H) in points.