Although the Crude Oil market is not as high as the liquidity market, it’s one of the most favored markets by professional merchants who like to find possibilities to profit. So to make you earn some impressive returns, we have developed this guide to make you a big player. Commercial players and the big hedge funds are currently dominating the Crude Oil Market. So if you wish to trade along with them, you need to have some strong strategies and effective crude oil tips, and the same can be availed from Shyam Advisory. So, let us move forward and learn some relevant aspects to earn better in this market.
CRUDE OIL TIPS, YOU CANNOT AFFORD TO IGNORE
• It is important to look after the Oil output forecast and consumption outlook as; the Oil supply and demand scales are a crucial factor that can alter the Oil trend.
• Geopolitical risks are another factor that drives oil trends. You have to keep this in mind while you are trading Brent Crude or WTI Crude.
• Weather conditions of the Gulf of Mexico and happenings in Iraq will resentfully influence the Oil supply output. Thus getting into seasonal flow can bring you good rewards.
• The month August brings great returns to traders as the crude oil tends to rise at this time due to summers.
• The intensive cold winters demand more oil which means the increased price of Oil.
• Springs and Falls, on the other hand, observe the lowest rate of crude oil. For cyclic traders, it is the best time to enter this market
• Another factor that drives the Oil market is the movement of Dollars. The thing to know, here, is that both of them move in opposite directions. The power of the dollar is a fast way to measure the power of Crude Oil prices.
• Moreover, you can always enroll with Shyam Advisory to get authentic and lucrative crude oil tips.
Step 1:Attach the Stochastic RSI indicator and the CCI indicator over the Crude Oil chart.
To keep up with the market, you should be aware of its happening. To know about prices and their movements, the RSI indicator is the best. The RSI indicator makes it simple to discover when an asset is overbought or oversold, which is useful in commodities markets. And if you are looking for an indicator that determines the best result for cyclic investment, there is no better option than CCI.
Step 2:Wait until the Stochastic RSI indicator shows an overbought reading for a prolonged period.
The best time to buy is when a market exhibits an overbought reading for an extended period. But how to determine this overbought sale? As a general rule, the Stochastic RSI indicator should be above the 50 lines through this time. But the right time will be when strong readings lie in the region of the 80 levels.
Step 3:Stochastic RSI indicator and the CCI indicator reading
To make sure that we are heading in the right direction, we check the CCI indicator as well. So, while you reset RSI, +100 reading on CCI claims a higher probability of the trade to succeed.
Step 4:Buy at the market once the Fast Moving Average crosses below the 20 levels.
The best time to buy at the market is when the blue line, which symbolizes the fast moving average, goes below the 20 levels.
Step 5:Hide your protective Stop Loss
It is essential to hide the protective loss step. Just identify the time when the Stochastic RSI indicator was in oversold territory. And once you do that, use it to place your protective stop loss.
Step 6:Take profit at the end of the day or if the CCI drops below the zero lines.
Crude Oil is one of the best commodities to deal with if you are investing in intraday trends. The best strategy to earn a profit is to wait until the CCI indicator drops below the zero lines. And once this happens, go ahead and claim your profit.
To know more about crude oil tips and strategies contact Shyam Advisory.