“A study on Technical analysis of Crude oil Futures with reference to Commodity Exchange (COMEX).”
NEED OF THE STUDY:
The Crude oil futures prices have shown a lot of volatility over the years; hence it is necessary to know the various technical and fundamental factors that influence the prices of Crude oil futures which will help the investor in reducing the risk involved in speculation. Since there is cut-throat competition in the present world market there is a need to study factors affecting Crude oil prices Even when Crude oil prices are high there is still a boom in the commodities market of Crude oil prices hence the main purpose and the need for the study are to know the Trend and direction of the Crude oil prices in COMEX which is the index of other commodity exchanges which will help the investors to assess the level of risk and opportunities for buying and selling attached to it.
The study will give an insight into trading under Crude oil futures Prices of developed countries. The study is expected to identify various factors such as technical and fundamental that will impact price fluctuations of Crude oil in international trading platforms with special reference to COMEX.
OBJECTIVES OF THE STUDY:
- To know how Crude oil prices are traded in International Market
- To analyze the price fluctuations of Crude oil prices at COMEX
- To Conduct the Technical analysis of Crude oil futures using a Candle stick Study for the last year.
- To evaluate the trend analysis of Crude oil prices at COMEX
- To study the impact of Crude oil prices on investors and provide suitable direction for investing by studying the buying and selling points.
SCOPE OF THE STUDY:
- The study covers various tools used like Relative strength index, Moving averages, Stochastics, MACD, and Bollinger bands.
- The study is confined only to Crude oil Futures in the commodity market and the last year’s data is taken.
RESEARCH METHODOLOGY: The data which is used is secondary in nature.
- SECONDARY DATA:
The data will be collected from the journals, articles, books, and technical data available at International exchanges websites and Historical Chart Patterns using Candle Sticks.
DATA ANALYSIS TOOLS:
The various technical tools applied on Candle sticks charts such as the Relative strength index, MACD, and Bollinger bands will be used for analyzing Crude oil futures traded at COMEX.
- Difficulty in getting the live prices of Crude oil prices in absence of online research
- Use of limited technical tools.
- Commodity trading is limited to Crude oil prices only.
- The study is limited only for a certain period of One year.)
- There may be factors other than those studied in this research that may impact Crude oil prices.