There are 8 main things that can be extracted from Crude Oil. These are: Petroleum gas, Naptha or Ligroin, Gasoline, Kerosene, Diesel Distillate, Lubricating Oil, Fuel Oil or Heavy Gas, Residuals (Bitumen). So Crude Oil is one of the most important commodities that drive the economy. Check Crude Oil price, chart and analysis below.
Crude Oil Price Trend Analysis
Crude Oil Futures Daily Candlestick Chart
The chart above the daily candles will update automatically with crude oil price movements. You need to refresh the page manually.
Crude Oil is heavily traded in MCX exchange. The trading unit for Crude Oil in MCX is 100 BBL. So 100 is the lot size in this commodity. There is a mini version available to trade. The trading unit for Crude Oil Mini is 10 BBL.
If you are looking for a trading strategy for trading Crude Oil check: How To Earn Weekly 120 Points Using Crude Oil Live Chart. Another trading strategy is here: Crude Oil Scalping With Parabolic SAR Indicator.
Brokers generally charge low margin for MCX commodities. So many traders tend to trade commodities for scalping. Zerodha needs a margin of Rs. 4500 (approx) for trading 1 lot of Crude Oil. So if you can make 20 points profit from the Crude Oil price movement it is a profit of Rs. 2000 per lot for you. While trading for 20 points a stop loss of 15 points can be kept. If one can achieve an accuracy of 60% also, he is going to earn 20×3 = 60 points in 3 winning trades and he loses 15 x 2 = 30 points in 2 losing trades. With a 60% accuracy also 30 points can be made safely from Crude Oil. This makes it one of the most polular traded commodities in the MCX market.
On the inventory day Crude Oil reacts with huge volatility. So traders are advised not to trade crude oil near inventory.