Exploration & Production Industry

Monitor and predict the growth prospects and potential risks of the Exploration & Production industry by examining the financial and macroeconomic factors affecting it and the latest Exploration & Production news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Exploration & Production updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Exploration & Production industry trend, growth prospects and risks.

Exploration & Production Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Exploration & Production industry US.OILEXPLOPROD 866.04 1 1 2.20906 58.8734 0.00465 0.00613 0.06612 0.61193

Exploration & Production Industry News

Exploration & Production Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Exploration & Production industry by examining the stock and credit performance of major Exploration & Production companies across the US, Europe, Eastern Europe and Asia Pacific. Exploration & Production Stock performance is monitored by analyzing STOXX equity indices of major Exploration & Production companies while Exploration & Production credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Exploration & Production high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Exploration & Production sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Exploration & Production industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Exploration & Production momentum, Exploration & Production trend, Exploration & Production oscillator, Exploration & Production RSI and Exploration & Production returns.

Exploration & Production description

The Oil & Gas Producers subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products.

Exploration & Production Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Exploration & Production momentum signal ranges from -100 to +100. The Exploration & Production momentum signal is derived as the mean value from 4 calculations for the Exploration & Production . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Exploration & Production momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Exploration & Production momentum signal moves from positive to negative value or vice-versa.

Exploration & Production trend

Exploration & Production trend signal ranges from -100 to +100. Exploration & Production trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production Closing price vs Exploration & Production moving average (MA) calculation: If Exploration & Production is greater than Exploration & Production MA value is +1, else -1, 2. Exploration & Production Moving average slope calculation: if current Exploration & Production moving average is higher than the previous MA, Exploration & Production upward slope +1, else -1
Exploration & Production trend model can be used as a trend strength indicator. Exploration & Production trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Exploration & Production trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Exploration & Production 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Exploration & Production is in an uptrend when Exploration & Production price is higher than the 52-week moving average and the Exploration & Production 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Exploration & Production oscillator and Exploration & Production RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Exploration & Production oscillator

The Exploration & Production oscillator estimated by MacroVar is the z-score of the currentExploration & Production price versus Exploration & Production 1-year simple moving average price. The formula for the Exploration & Production oscillator is:
Exploration & Production oscillator = (Current Price – 250 trading days Exploration & Production simple moving average price) / (250 days Exploration & Production price standard deviation)

Exploration & Production oversold conditions
Exploration & Production is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Exploration & Production is oversold it is often due for a rebound. Values of the Exploration & Production oscillator lower than -2.5 signify oversold conditions. It must be noted that the Exploration & Production oscillator must be analyzed ibn conjunction with the rest ofExploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Exploration & Production RSI.
Exploration & Production overbought conditions
Exploration & Production is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Exploration & Production is overbought it is often due for a correction. Values of the Exploration & Production oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Exploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Exploration & Production RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Exploration & Production is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringExploration & Production uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Exploration & Production returns

MacroVar calculates Exploration & Production returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Exploration & Production returns = (Exploration & Production Closing Price – Exploration & Production Previous Price)/(Exploration & Production Previous Price)

level”:1} –>

Exploration & Production Industry

Monitor and predict the growth prospects and potential risks of the Exploration & Production industry by examining the financial and macroeconomic factors affecting it and the latest Exploration & Production news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Exploration & Production updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Exploration & Production industry trend, growth prospects and risks.

Exploration & Production Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Exploration & Production industry US.OILEXPLOPROD 866.04 1 1 2.20906 58.8734 0.00465 0.00613 0.06612 0.61193

Exploration & Production Industry News

Exploration & Production Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Exploration & Production industry by examining the stock and credit performance of major Exploration & Production companies across the US, Europe, Eastern Europe and Asia Pacific. Exploration & Production Stock performance is monitored by analyzing STOXX equity indices of major Exploration & Production companies while Exploration & Production credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Exploration & Production high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Exploration & Production sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Exploration & Production industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Exploration & Production momentum, Exploration & Production trend, Exploration & Production oscillator, Exploration & Production RSI and Exploration & Production returns.

Exploration & Production description

The Oil & Gas Producers subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products.

Exploration & Production Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Exploration & Production momentum signal ranges from -100 to +100. The Exploration & Production momentum signal is derived as the mean value from 4 calculations for the Exploration & Production . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Exploration & Production momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Exploration & Production momentum signal moves from positive to negative value or vice-versa.

Exploration & Production trend

Exploration & Production trend signal ranges from -100 to +100. Exploration & Production trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production Closing price vs Exploration & Production moving average (MA) calculation: If Exploration & Production is greater than Exploration & Production MA value is +1, else -1, 2. Exploration & Production Moving average slope calculation: if current Exploration & Production moving average is higher than the previous MA, Exploration & Production upward slope +1, else -1
Exploration & Production trend model can be used as a trend strength indicator. Exploration & Production trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Exploration & Production trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Exploration & Production 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Exploration & Production is in an uptrend when Exploration & Production price is higher than the 52-week moving average and the Exploration & Production 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Exploration & Production oscillator and Exploration & Production RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Exploration & Production oscillator

The Exploration & Production oscillator estimated by MacroVar is the z-score of the currentExploration & Production price versus Exploration & Production 1-year simple moving average price. The formula for the Exploration & Production oscillator is:
Exploration & Production oscillator = (Current Price – 250 trading days Exploration & Production simple moving average price) / (250 days Exploration & Production price standard deviation)

Exploration & Production oversold conditions
Exploration & Production is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Exploration & Production is oversold it is often due for a rebound. Values of the Exploration & Production oscillator lower than -2.5 signify oversold conditions. It must be noted that the Exploration & Production oscillator must be analyzed ibn conjunction with the rest ofExploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Exploration & Production RSI.
Exploration & Production overbought conditions
Exploration & Production is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Exploration & Production is overbought it is often due for a correction. Values of the Exploration & Production oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Exploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Exploration & Production RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Exploration & Production is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringExploration & Production uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Exploration & Production returns

MacroVar calculates Exploration & Production returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Exploration & Production returns = (Exploration & Production Closing Price – Exploration & Production Previous Price)/(Exploration & Production Previous Price)

level”:1} –>

Exploration & Production Industry

Monitor and predict the growth prospects and potential risks of the Exploration & Production industry by examining the financial and macroeconomic factors affecting it and the latest Exploration & Production news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Exploration & Production updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Exploration & Production industry trend, growth prospects and risks.

Exploration & Production Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Exploration & Production industry US.OILEXPLOPROD 866.04 1 1 2.20906 58.8734 0.00465 0.00613 0.06612 0.61193

Exploration & Production Industry News

Exploration & Production Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Exploration & Production industry by examining the stock and credit performance of major Exploration & Production companies across the US, Europe, Eastern Europe and Asia Pacific. Exploration & Production Stock performance is monitored by analyzing STOXX equity indices of major Exploration & Production companies while Exploration & Production credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Exploration & Production high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Exploration & Production sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Exploration & Production industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Exploration & Production momentum, Exploration & Production trend, Exploration & Production oscillator, Exploration & Production RSI and Exploration & Production returns.

Exploration & Production description

The Oil & Gas Producers subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products.

Exploration & Production Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Exploration & Production momentum signal ranges from -100 to +100. The Exploration & Production momentum signal is derived as the mean value from 4 calculations for the Exploration & Production . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Exploration & Production momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Exploration & Production momentum signal moves from positive to negative value or vice-versa.

Exploration & Production trend

Exploration & Production trend signal ranges from -100 to +100. Exploration & Production trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production Closing price vs Exploration & Production moving average (MA) calculation: If Exploration & Production is greater than Exploration & Production MA value is +1, else -1, 2. Exploration & Production Moving average slope calculation: if current Exploration & Production moving average is higher than the previous MA, Exploration & Production upward slope +1, else -1
Exploration & Production trend model can be used as a trend strength indicator. Exploration & Production trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Exploration & Production trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Exploration & Production 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Exploration & Production is in an uptrend when Exploration & Production price is higher than the 52-week moving average and the Exploration & Production 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Exploration & Production oscillator and Exploration & Production RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Exploration & Production oscillator

The Exploration & Production oscillator estimated by MacroVar is the z-score of the currentExploration & Production price versus Exploration & Production 1-year simple moving average price. The formula for the Exploration & Production oscillator is:
Exploration & Production oscillator = (Current Price – 250 trading days Exploration & Production simple moving average price) / (250 days Exploration & Production price standard deviation)

Exploration & Production oversold conditions
Exploration & Production is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Exploration & Production is oversold it is often due for a rebound. Values of the Exploration & Production oscillator lower than -2.5 signify oversold conditions. It must be noted that the Exploration & Production oscillator must be analyzed ibn conjunction with the rest ofExploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Exploration & Production RSI.
Exploration & Production overbought conditions
Exploration & Production is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Exploration & Production is overbought it is often due for a correction. Values of the Exploration & Production oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Exploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Exploration & Production RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Exploration & Production is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringExploration & Production uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Exploration & Production returns

MacroVar calculates Exploration & Production returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Exploration & Production returns = (Exploration & Production Closing Price – Exploration & Production Previous Price)/(Exploration & Production Previous Price)

level”:1} –>

Exploration & Production Industry

Monitor and predict the growth prospects and potential risks of the Exploration & Production industry by examining the financial and macroeconomic factors affecting it and the latest Exploration & Production news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Exploration & Production updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Exploration & Production industry trend, growth prospects and risks.

Exploration & Production Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Exploration & Production industry US.OILEXPLOPROD 866.04 1 1 2.20906 58.8734 0.00465 0.00613 0.06612 0.61193

Exploration & Production Industry News

Exploration & Production Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Exploration & Production industry by examining the stock and credit performance of major Exploration & Production companies across the US, Europe, Eastern Europe and Asia Pacific. Exploration & Production Stock performance is monitored by analyzing STOXX equity indices of major Exploration & Production companies while Exploration & Production credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Exploration & Production high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Exploration & Production sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Exploration & Production industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Exploration & Production momentum, Exploration & Production trend, Exploration & Production oscillator, Exploration & Production RSI and Exploration & Production returns.

Exploration & Production description

The Oil & Gas Producers subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products.

Exploration & Production Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Exploration & Production momentum signal ranges from -100 to +100. The Exploration & Production momentum signal is derived as the mean value from 4 calculations for the Exploration & Production . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Exploration & Production momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Exploration & Production momentum signal moves from positive to negative value or vice-versa.

Exploration & Production trend

Exploration & Production trend signal ranges from -100 to +100. Exploration & Production trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Exploration & Production Closing price vs Exploration & Production moving average (MA) calculation: If Exploration & Production is greater than Exploration & Production MA value is +1, else -1, 2. Exploration & Production Moving average slope calculation: if current Exploration & Production moving average is higher than the previous MA, Exploration & Production upward slope +1, else -1
Exploration & Production trend model can be used as a trend strength indicator. Exploration & Production trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Exploration & Production trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Exploration & Production 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Exploration & Production is in an uptrend when Exploration & Production price is higher than the 52-week moving average and the Exploration & Production 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Exploration & Production oscillator and Exploration & Production RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Exploration & Production oscillator

The Exploration & Production oscillator estimated by MacroVar is the z-score of the currentExploration & Production price versus Exploration & Production 1-year simple moving average price. The formula for the Exploration & Production oscillator is:
Exploration & Production oscillator = (Current Price – 250 trading days Exploration & Production simple moving average price) / (250 days Exploration & Production price standard deviation)

Exploration & Production oversold conditions
Exploration & Production is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Exploration & Production is oversold it is often due for a rebound. Values of the Exploration & Production oscillator lower than -2.5 signify oversold conditions. It must be noted that the Exploration & Production oscillator must be analyzed ibn conjunction with the rest ofExploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Exploration & Production RSI.
Exploration & Production overbought conditions
Exploration & Production is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Exploration & Production is overbought it is often due for a correction. Values of the Exploration & Production oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Exploration & Production quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Exploration & Production RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Exploration & Production is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringExploration & Production uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Exploration & Production returns

MacroVar calculates Exploration & Production returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Exploration & Production returns = (Exploration & Production Closing Price – Exploration & Production Previous Price)/(Exploration & Production Previous Price)