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 ...

Голова и плечи-Head and shoulders

 Head and shoulders



Figure "Head and Shoulders"

Technical Figure "Head and Shoulders" - is formed at the highs of the price chart during an uptrend. Through points 1 and 2, the line of the base of the figure (the line of the neck) is drawn. The figure is considered fully formed only after the price closes below the bottom line of the figure.


After that, the price is expected to decline by at least the height of the pattern, which is measured as the distance in points from the pattern's high to the neck line. It is recommended to sell either immediately during the breakout of the base line of the figure, or after waiting for a rollback to it after the breakout.



Inverted head and shoulders figure

The "Inverted Head and Shoulders" pattern is formed at the lows of the price chart during a downtrend. Through points 1 and 2, the line of the base of the figure (the line of the neck) is drawn. This figure of technical analysis is considered to be fully formed only after the price closes above the bottom line of the figure.


After that, the price is expected to rise by at least the height of the pattern, which is measured as the distance in points from the low of the pattern to the neck line. It is recommended to buy either immediately during the breakout of the base line of the figure, or after waiting for a rollback to it after the breakout.