Definition of Going Long in Oil

In oil as trader you will be buying one oil for another. When you buy a oil in oil this is known as going long.

Going long is therefore just another term used to refer to buying of a crude oil.

You will use oil charts to determine when to go long a oil instrument - you will go long if the crude oil prices on the crude oil charts are heading in an upwards oil trend direction.

Go Long Oil Trade

If the crude oil price on a oil chart is going up we buy the oil instrument, this is also referred to as going long Therefore going long is just another name for buying. When the oil market oil trend is going upwards it is referred to as a bullish oil market trend, this is when a buy oil trade order is placed - Going Long Oil Trade. A bullish oil trend is identified by drawing an upward oil trendline on a oil chart. The example shown below shows a buy oil trade - Going Long.

What Does it Mean to Go Long a Oil instrument? - Definition of Going Long in Crude Oil Trading