ebf301_lessonactivity11 - Fatin Nor Azizi EBF 301 ­ Lesson...

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Unformatted text preview: Fatin Nor Azizi EBF 301 ­ Lesson Activity 11 1. What type of chart is this? It is a bar chart. Also known as the OHLC chart (Open/High/Low/Close). 2. What type of price information does it show? This bar chart shows the January 2013 NYMEX contract for light crude oil. The vertical lines observed on the chart represent each selected time increment. On each vertical line there are two bars; one directed to the left showing the first trade of the day or the “open” position and another one directed to the right representing the last trade of the day or the “close” position. The vertical line also represents the full range of prices for a specific day from the highest to the lowest prices. 3. What is the prevailing trend? The prevailing trend showed in this chart is the NYMEX contract for crude oil is increasing steadily. 4. What does the blue line represent? The blue lines represents the trendline and signifies the Market Average for closing price for the given month. 5. What is the single red line in the second box? The single line in the second box shows the daily chart with volume of the Relative Strength index. 6. What is indicated in the bottom box? The bottom box indicates the average of the relative strength closing price. 7. What are the two red lines connecting price points called? The two red lines connecting price points are called the Support and Resistance. Fatin Nor Azizi EBF 301 ­ Lesson Activity 11 8. The point at which the upper red line crosses the right axis is called? The point at which the upper red line crosses the right axis is called the Resistance point and is $98.64. 9. The point at which the lower red line crossed the right axis is called? The point at which the lower red line crossed the right axis is called the Support point and is $96.36. 10. Is this market “overbought”, “oversold”, or “neutral”? The market is “neutral” because the Relative Strength Index (RSI) is not below 30 or above 70. When the RSI is below 30 the market is “oversold” and when the RSI is above 70 the market is “overbought”. ...
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