Light Crude Oil (Pit) Daily Commodity Futures Price Chart: Sept. 2014 : NYMEX

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Daily Commodity Futures Price Chart: Sept. 2014

Light Crude Oil (Pit) (NYMEX)

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Contract Specifications:CL,NYMEX
Trading Unit: 1,000 U.S. barrels (42,000 gallons)
Tick Size: $0.01 (1c) per barrel ($10 per contract)
Quoted Units: US $ per barrel
Initial Margin: $9,788   Maint Margin: $7,250
Contract Months: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec
First Notice Day: Two business days after last trading day.
Last Trading Day: Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month.
Trading Hours: Open outcry trading is conducted from 10:00 A.M. until 2:30 P.M.
Electronic Trading on CME Globex - Sun thru Fri 6:00 PM to 5:15 PM
Daily Limit: $10.00 per barrel ($10,000 per contract)

Analysis

Wed 7/30/14

Bollinger Bands Indicator:

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

Additional Analysis: Volatility appears to be declining, as evidenced by a decreasing distance between the upper and lower bands over the last few bars. The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator.

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 bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short 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 slow moving average slope is down from previous bar.

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

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

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is below the moving average so the trend is down.

Additional Analysis: Market trend is DOWN.

Stochastic - Fast Indicator:

Conventional Interpretation: The stochastic is bearish because the SlowK line is below the SlowD line.

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 (40.11). A good downward move is possible without SlowK being oversold.

Stochastic - Slow 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 (52.93). 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.

Volatility Indicator: The volatility trend, based on a 9 bar moving average, has just switched to down.

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 DOWN. Volume is trending lower. In general this is bearish.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 42.17). 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 oversold (RSI is at 42.17). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence here before getting too bullish here.

ADX Indicator:

Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is falling.

Additional Analysis: The long term trend, based on a 45 bar moving average, is down. A falling ADX indicates that the current trend is weakening and may possibly reverse. Look for a choppy market ahead.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (-78.35) 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 (-78.35) is currently short. The current short position will be reversed when the CCI crosses above zero.

DMI Indicator:

Conventional Interpretation: DMI+ is less than DMI-, indicating a downward trending market. A signal is generated when DMI+ crosses DMI-.

Additional Analysis: DMI is in bearish territory.

MACD Indicator:

Conventional Interpretation: MACD is in bearish 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 bearish territory.

Momentum Indicator:

Conventional Interpretation: Momentum (1.44) 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 in bullish territory.upside move is likely.

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.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (1.45) 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 in bullish territory.

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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Lt Crude 99.51
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USD Index 81.575
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