Oil Technical Analysis for Beginners

Trend Line Oil

A oil trend line can be an upwards oil trendline or a downward oil trend line.

An up oil trendline is drawn by connecting 2 lows and the crude trading price lows are connected using straight line. This straight line shows that the crude trading prices are heading upward because this oil trend line slopes upwards - hence its name upward oil trend line. Oil traders then use this oil trend-line as a support zone of the crude trading price. New buy crude oil trades are opened once the crude trading price touches the upward oil trend line.

A down oil trendline is drawn by connecting 2 highs and the crude trading price highs are connected using a straight line. This straight line shows that the crude trading prices are moving downward because this oil trend line slopes downward - hence its name downwards oil trend line. Oil traders then use this oil trend line as a resistance zone of the crude trading price. New sell crude oil trades are opened once the crude trading price touches the downwards oil trend line.

Guide:How to Draw and Trade Upward Oil Trend Line - Oil Technical Analysis for Beginner Traders

How Do I Analyze Oil Trend with a Oil Trend Line? - Oil Technical Analysis for Beginners

Course: How to Draw & Trade Downwards Oil Trend Line - Oil Technical Analysis for Beginner Traders

Oil Technical Analysis of Oil Trend Lines - Trend Line Oil Trading - Oil Technical Analysis of Oil Trend Lines