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USOil Trading Ranges

Learn more about Trading Ranges

Why is this important?

Trading ranges show the highest and lowest closing price that an instrument has traded within a specific time frame. The difference between the highest and lowest price is the "range". Trading ranges are used as a technical indicator by traders who view the high and low as important support and resistance levels to closely monitor.

For example, as an instrument trades within its 1-year price range (the range that exists between the 1-year high and the 1-year low), traders may show increased interest as price nears either the high or the low. If price is near its low, traders may look to go long if they think the low will hold as a support level. If the instrument continues to fall though and creates a new low, traders may look to go short since the previous low failed to hold as a support level.

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USOil Trading Ranges