Crude Oil EmiNY
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Weekly Commodity Futures Price Chart

Crude Oil EmiNY (NYMEX)

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Contract Specifications:QM,NYMEX
Trading Unit: 500 barrels
Tick Size: U.S. dollars and cents per barrel
Quoted Units: US $ per barrel
Initial Margin: $4,894   Maint Margin: $3,625
Contract Months: All 12 month
Last Trading Day: Trading terminates at the close of business on the fourth business day prior to the 25th calendar day of the month preceding the contract month.
Trading Hours: The contract is available for trading on the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, with a 45-minute break each day between 5:15 PM and 6:00 PM.

Analysis

Fri 8/18/17

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is above the moving average so the trend is up.

Additional Analysis: Market trend is UP.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Short Term: Even though based on conventional interpretation the market is technically bullish, we will not classify it as extremely bullish until the following occurs: price goes above the fast moving average.

Conventional Interpretation - Long Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Long Term: Even though based on conventional interpretation the market is technically bearish, we will not classify it as extremely bearish until the following occurs: the fast moving average slope is down from previous bar, price goes below the fast moving average, price goes below the slow moving average.

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: The market is in overbought territory.

Volatility Indicator: Volatility is in a downtrend based on a 9 bar moving average.

Momentum Indicator:

Conventional Interpretation: Momentum (2.68) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Momentum is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before getting too bearish here.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (5.84) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before closing long positions here.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (4.53) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation, CCI (4.53) is currently long. The current long position position will be reversed when the CCI crosses below zero.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 50.66). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat overbought (RSI is at 50.66). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence before getting too bearish here.

MACD Indicator:

Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is UP. MACD is in bullish territory.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is UP. Volume is trending higher, allowing for a pick up in volatility.

Stochastic - Fast Indicator:

Conventional Interpretation: The SlowK line crossed below the SlowD line; this indicates a sell signal.

Additional Analysis: CAUTION: The long term trend has changed direction. Now the long term trend is DOWN! The market looks weak both long term and short term. The SlowK is at (64.82). A good downward move is possible without SlowK being oversold.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: CAUTION: The long term trend has changed direction. Now the long term trend is DOWN! The short term trend is DOWN. SlowK was down this bar for the first time in a while. Its possible that we may see a down move here. if next bar's SlowK is also down, then a possible top may have been established. The market looks weak both long term and short term. The SlowK is at (65.67). A good downward move is possible without SlowK being oversold.

Swing Index Indicator:

Conventional Interpretation: The swing index is most often used to identify bars where the market is likely to change direction. A signal is generated when the swing index crosses zero. No signal has been generated here.

Additional Analysis: No additional interpretation.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

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