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 ...

Pennant-Вымпел

 Pennant




A pennant is formed in a similar way to a triangle. The key difference is that the upper border of the pennant is directed downwards, the lower one is upwards. Usually the pattern appears after strong impulsive movements in the direction of the main trend.


bull pennant


A bullish pennant resembles a symmetrical triangle. Typically, a bullish pennant continues the current bullish trend. After breaking through the upper boundary of the pennant, a price movement equal to the size of the pennant is possible.




The universal pattern "Triangle" can portend both a reversal and a continuation of the current trend. Formed between two converging support and resistance lines. It is recommended to trade in the direction of the pattern breakout - if the price closes above the resistance line - buy, if the price closes below the support line - sell. The purpose of working out is the value of the base of the pattern (H) in points.

Ascending Triangle

"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.


bear pennant


The bearish pennant is a mirror image of the bullish one. The figure appears after a strong price decline and ends with the appearance of a triangle in the form of a pennant. Usually a bearish pennant continues a bearish trend.


Descending triangle

"Descending Triangle" - a pattern of continuation of the downward trend. Formed between a horizontal support level and a descending resistance line. After closing the price below the support level, sales are recommended, the target of working out is the value of the pattern base (H) in points.