NYMEX Crude Oil, Heating Oil and RBOB Gasoline Traded on Globex
The CQG Analog Chart, which is a chart display that plots multiple markets, has crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line) plotted. In addition, I have the RSI study plotted for each market using the same colors as the prices.
The previous day’s technical evaluation is intact. The RSI for gasoline continues to close above 62, confirming the up trend. And, the RSI readings (white histogram bars) for heating oil did close yesterday above 62, as well. That is another sign of bullish momentum.
Today, the low of Crude is below demand line of the new uptrend channel, but buyers did come in. I’ll replot the channel after today’s close.
The Constant Volume Bar chart of the crude oil is set to 1,000 contracts with the SnapTrader. The market is trading between a support and a resistance zone.
The TFlow Chart, and my two studies, which are set to five TFlow bars, also has the ChartTrader. When this image was captured, it was a two-way market because both the green buy volume line and the red sell volume line of the TFVCrss study are tracking each other.
The TFlow view can change in an instant.