Technical Analysis of Oil Trend Lines

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 oil price lows are connected using straight line. This straight line shows that the crude oil 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 oil price. New buy crude oil trades are opened once the crude oil price touches the upward oil trend line.

A down oil trendline is drawn by connecting 2 highs and the crude oil price highs are connected using a straight line. This straight line shows that the crude oil 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 oil price. New sell crude oil trades are opened once the crude oil price touches the downwards oil trend line.

Guide:How to Draw and Trade Upward Oil Trendline

How Do I Analyze Oil Trend-Line? - How Do You Analyze Oil Trend Line?

Course: How to Draw & Trade Downwards Oil Trend Line

Technical Analysis of Oil Trend Lines - Trendline Oil