Oil & Gas Industry
Monitor and predict the growth prospects and potential risks of the Oil & Gas industry by examining the financial and macroeconomic factors affecting it and the latest Oil & Gas news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil & Gas 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 Oil & Gas industry trend, growth prospects and risks.
Oil & Gas Industry Markets
| Market | Symbol | Last | Mom | Trend | Exh | RSI | 1D% | 1W% | 1M% | 1Y% |
|---|---|---|---|---|---|---|---|---|---|---|
| US Oil & Gas industry | US.INDOILGAS | 716.32 | -50 | 25 | 0 | 42.98 | 1.14 | -4.94 | -8.7 | 44.4 |
| Europe Oil & Gas industry | EU.OIL | 540.98 | -1 | -1 | -1.12184 | 36.6301 | -2.19 | -6.59 | -8.31 | -0.4047 |
| STOXX Asia Pacific 600 Oil & Gas | APAC.OILGAS | 138.39 | -0.5 | -0.75 | -1.08851 | 38.1938 | 0.7 | -5.77 | -9.04 | -0.33968 |
| Eastern Europe Oil & Gas | EEU.OILGAS | 134.86 | -1 | -0.75 | -1.22185 | 38.5299 | -0.13 | -5.29 | -16.77 | -0.34199 |
| US Oil & Gas Credit Spreads | US.OILGAS.CR | 192.71 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Europe Oil & Gas Credit Spreads | EU.OILGAS.CR | 226.94 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oil & Gas Industry News
Oil & Gas Industry Analysis
MacroVar monitors the performance, risk, trend and momentum of the Oil & Gas industry by examining the stock and credit performance of major Oil & Gas companies across the US, Europe, Eastern Europe and Asia Pacific. Oil & Gas Stock performance is monitored by analyzing STOXX equity indices of major Oil & Gas companies while Oil & Gas credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil & Gas high yield corporate bond market.
MacroVar also monitors fundamental indicators closely linked to the Oil & Gas 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 Oil & Gas industry like closely related financial markets or macroeconmic indicators.
MacroVar estimates the following signals: Oil & Gas momentum, Oil & Gas trend, Oil & Gas oscillator, Oil & Gas RSI and Oil & Gas returns.
Oil & Gas Industry Description
The Oil & Gas industry includes the economic sectors of Oil & Gas producers, Oil equipment, services and distribution and alternative energy. The Oil & Gas production sector includes the subsectors of Exploration & Production and integrated & oil gas. The exploration & production subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas producs. Integrated Oil & Gas subsector includes companies engaged in the exploration for drilling, production, refining, distribution and retail sales of oil and gas products. The Oil Equipment, Services & Distribution sector includes the subsectors of Oil Equipment & Services and Pipelines. The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismicinformation services and platform construction. The Pipelines subsector includes companies engaged in the operation of pipelines carrying oil, gas or other forms of fuel. Excludes pipeline operators that derive the majority of their revenues from direct sales to end users, which are classified under Gas Distribution.The Alternative Energy sector includes the subsectors of Renewable Energy Equipment and Alternative Fuels. The Renewable Energy Equipment subsector includes companies that develop or manufacture renewable energy equipment utilizing sources such as solar, wind, tidal, geothermal hydro, and waves. The Alternative Fuels subsector includes companies that produce alternative fuels such as ethanol, methanol, hydrogen and biofuels that are mainly used to power vehicles, and companies that are involved in the production of vehicle fuel cells and/ or the development of alternative fuelling infrastructure.
Oil & Gas 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 Oil & Gas momentum signal ranges from -100 to +100. The Oil & Gas momentum signal is derived as the mean value from 4 calculations for the Oil & Gas . 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. Oil & Gas 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. Oil & Gas momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil & Gas momentum signal moves from positive to negative value or vice-versa.
Oil & Gas trend
Oil & Gas trend signal ranges from -100 to +100. Oil & Gas 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. Oil & Gas Closing price vs Oil & Gas moving average (MA) calculation: If Oil & Gas is greater than Oil & Gas MA value is +1, else -1, 2. Oil & Gas Moving average slope calculation: if current Oil & Gas moving average is higher than the previous MA, Oil & Gas upward slope +1, else -1
Oil & Gas trend model can be used as a trend strength indicator. Oil & Gas trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil & Gas trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Oil & Gas 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil & Gas is in an uptrend when Oil & Gas price is higher than the 52-week moving average and the Oil & Gas 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 Oil & Gas oscillator and Oil & Gas RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Oil & Gas oscillator
The Oil & Gas oscillator estimated by MacroVar is the z-score of the currentOil & Gas price versus Oil & Gas 1-year simple moving average price. The formula for the Oil & Gas oscillator is:
Oil & Gas oscillator = (Current Price – 250 trading days Oil & Gas simple moving average price) / (250 days Oil & Gas price standard deviation)
Oil & Gas oversold conditions
Oil & Gas is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil & Gas is oversold it is often due for a rebound. Values of the Oil & Gas oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil & Gas oscillator must be analyzed ibn conjunction with the rest ofOil & Gas 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 Oil & Gas RSI.
Oil & Gas overbought conditions
Oil & Gas is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil & Gas is overbought it is often due for a correction. Values of the Oil & Gas oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil & Gas 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.
Oil & Gas 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 Oil & Gas is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil & Gas 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.
Oil & Gas returns
MacroVar calculates Oil & Gas returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Oil & Gas returns = (Oil & Gas Closing Price – Oil & Gas Previous Price)/(Oil & Gas Previous Price)
level”:1} –>
Oil & Gas Industry
Monitor and predict the growth prospects and potential risks of the Oil & Gas industry by examining the financial and macroeconomic factors affecting it and the latest Oil & Gas news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil & Gas 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 Oil & Gas industry trend, growth prospects and risks.
Oil & Gas Industry Markets
| Market | Symbol | Last | Mom | Trend | Exh | RSI | 1D% | 1W% | 1M% | 1Y% |
|---|---|---|---|---|---|---|---|---|---|---|
| US Oil & Gas industry | US.INDOILGAS | 716.32 | -50 | 25 | 0 | 42.98 | 1.14 | -4.94 | -8.7 | 44.4 |
| Europe Oil & Gas industry | EU.OIL | 540.98 | -1 | -1 | -1.12184 | 36.6301 | -2.19 | -6.59 | -8.31 | -0.4047 |
| STOXX Asia Pacific 600 Oil & Gas | APAC.OILGAS | 138.39 | -0.5 | -0.75 | -1.08851 | 38.1938 | 0.7 | -5.77 | -9.04 | -0.33968 |
| Eastern Europe Oil & Gas | EEU.OILGAS | 134.86 | -1 | -0.75 | -1.22185 | 38.5299 | -0.13 | -5.29 | -16.77 | -0.34199 |
| US Oil & Gas Credit Spreads | US.OILGAS.CR | 192.71 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Europe Oil & Gas Credit Spreads | EU.OILGAS.CR | 226.94 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oil & Gas Industry News
Oil & Gas Industry Analysis
MacroVar monitors the performance, risk, trend and momentum of the Oil & Gas industry by examining the stock and credit performance of major Oil & Gas companies across the US, Europe, Eastern Europe and Asia Pacific. Oil & Gas Stock performance is monitored by analyzing STOXX equity indices of major Oil & Gas companies while Oil & Gas credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil & Gas high yield corporate bond market.
MacroVar also monitors fundamental indicators closely linked to the Oil & Gas 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 Oil & Gas industry like closely related financial markets or macroeconmic indicators.
MacroVar estimates the following signals: Oil & Gas momentum, Oil & Gas trend, Oil & Gas oscillator, Oil & Gas RSI and Oil & Gas returns.
Oil & Gas Industry Description
The Oil & Gas industry includes the economic sectors of Oil & Gas producers, Oil equipment, services and distribution and alternative energy. The Oil & Gas production sector includes the subsectors of Exploration & Production and integrated & oil gas. The exploration & production subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas producs. Integrated Oil & Gas subsector includes companies engaged in the exploration for drilling, production, refining, distribution and retail sales of oil and gas products. The Oil Equipment, Services & Distribution sector includes the subsectors of Oil Equipment & Services and Pipelines. The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismicinformation services and platform construction. The Pipelines subsector includes companies engaged in the operation of pipelines carrying oil, gas or other forms of fuel. Excludes pipeline operators that derive the majority of their revenues from direct sales to end users, which are classified under Gas Distribution.The Alternative Energy sector includes the subsectors of Renewable Energy Equipment and Alternative Fuels. The Renewable Energy Equipment subsector includes companies that develop or manufacture renewable energy equipment utilizing sources such as solar, wind, tidal, geothermal hydro, and waves. The Alternative Fuels subsector includes companies that produce alternative fuels such as ethanol, methanol, hydrogen and biofuels that are mainly used to power vehicles, and companies that are involved in the production of vehicle fuel cells and/ or the development of alternative fuelling infrastructure.
Oil & Gas 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 Oil & Gas momentum signal ranges from -100 to +100. The Oil & Gas momentum signal is derived as the mean value from 4 calculations for the Oil & Gas . 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. Oil & Gas 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. Oil & Gas momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil & Gas momentum signal moves from positive to negative value or vice-versa.
Oil & Gas trend
Oil & Gas trend signal ranges from -100 to +100. Oil & Gas 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. Oil & Gas Closing price vs Oil & Gas moving average (MA) calculation: If Oil & Gas is greater than Oil & Gas MA value is +1, else -1, 2. Oil & Gas Moving average slope calculation: if current Oil & Gas moving average is higher than the previous MA, Oil & Gas upward slope +1, else -1
Oil & Gas trend model can be used as a trend strength indicator. Oil & Gas trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil & Gas trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Oil & Gas 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil & Gas is in an uptrend when Oil & Gas price is higher than the 52-week moving average and the Oil & Gas 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 Oil & Gas oscillator and Oil & Gas RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Oil & Gas oscillator
The Oil & Gas oscillator estimated by MacroVar is the z-score of the currentOil & Gas price versus Oil & Gas 1-year simple moving average price. The formula for the Oil & Gas oscillator is:
Oil & Gas oscillator = (Current Price – 250 trading days Oil & Gas simple moving average price) / (250 days Oil & Gas price standard deviation)
Oil & Gas oversold conditions
Oil & Gas is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil & Gas is oversold it is often due for a rebound. Values of the Oil & Gas oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil & Gas oscillator must be analyzed ibn conjunction with the rest ofOil & Gas 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 Oil & Gas RSI.
Oil & Gas overbought conditions
Oil & Gas is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil & Gas is overbought it is often due for a correction. Values of the Oil & Gas oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil & Gas 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.
Oil & Gas 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 Oil & Gas is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil & Gas 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.
Oil & Gas returns
MacroVar calculates Oil & Gas returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Oil & Gas returns = (Oil & Gas Closing Price – Oil & Gas Previous Price)/(Oil & Gas Previous Price)
level”:1} –>
Oil & Gas Industry
Monitor and predict the growth prospects and potential risks of the Oil & Gas industry by examining the financial and macroeconomic factors affecting it and the latest Oil & Gas news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil & Gas 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 Oil & Gas industry trend, growth prospects and risks.
Oil & Gas Industry Markets
| Market | Symbol | Last | Mom | Trend | Exh | RSI | 1D% | 1W% | 1M% | 1Y% |
|---|---|---|---|---|---|---|---|---|---|---|
| US Oil & Gas industry | US.INDOILGAS | 716.32 | -50 | 25 | 0 | 42.98 | 1.14 | -4.94 | -8.7 | 44.4 |
| Europe Oil & Gas industry | EU.OIL | 540.98 | -1 | -1 | -1.12184 | 36.6301 | -2.19 | -6.59 | -8.31 | -0.4047 |
| STOXX Asia Pacific 600 Oil & Gas | APAC.OILGAS | 138.39 | -0.5 | -0.75 | -1.08851 | 38.1938 | 0.7 | -5.77 | -9.04 | -0.33968 |
| Eastern Europe Oil & Gas | EEU.OILGAS | 134.86 | -1 | -0.75 | -1.22185 | 38.5299 | -0.13 | -5.29 | -16.77 | -0.34199 |
| US Oil & Gas Credit Spreads | US.OILGAS.CR | 192.71 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Europe Oil & Gas Credit Spreads | EU.OILGAS.CR | 226.94 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oil & Gas Industry News
Oil & Gas Industry Analysis
MacroVar monitors the performance, risk, trend and momentum of the Oil & Gas industry by examining the stock and credit performance of major Oil & Gas companies across the US, Europe, Eastern Europe and Asia Pacific. Oil & Gas Stock performance is monitored by analyzing STOXX equity indices of major Oil & Gas companies while Oil & Gas credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil & Gas high yield corporate bond market.
MacroVar also monitors fundamental indicators closely linked to the Oil & Gas 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 Oil & Gas industry like closely related financial markets or macroeconmic indicators.
MacroVar estimates the following signals: Oil & Gas momentum, Oil & Gas trend, Oil & Gas oscillator, Oil & Gas RSI and Oil & Gas returns.
Oil & Gas Industry Description
The Oil & Gas industry includes the economic sectors of Oil & Gas producers, Oil equipment, services and distribution and alternative energy. The Oil & Gas production sector includes the subsectors of Exploration & Production and integrated & oil gas. The exploration & production subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas producs. Integrated Oil & Gas subsector includes companies engaged in the exploration for drilling, production, refining, distribution and retail sales of oil and gas products. The Oil Equipment, Services & Distribution sector includes the subsectors of Oil Equipment & Services and Pipelines. The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismicinformation services and platform construction. The Pipelines subsector includes companies engaged in the operation of pipelines carrying oil, gas or other forms of fuel. Excludes pipeline operators that derive the majority of their revenues from direct sales to end users, which are classified under Gas Distribution.The Alternative Energy sector includes the subsectors of Renewable Energy Equipment and Alternative Fuels. The Renewable Energy Equipment subsector includes companies that develop or manufacture renewable energy equipment utilizing sources such as solar, wind, tidal, geothermal hydro, and waves. The Alternative Fuels subsector includes companies that produce alternative fuels such as ethanol, methanol, hydrogen and biofuels that are mainly used to power vehicles, and companies that are involved in the production of vehicle fuel cells and/ or the development of alternative fuelling infrastructure.
Oil & Gas 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 Oil & Gas momentum signal ranges from -100 to +100. The Oil & Gas momentum signal is derived as the mean value from 4 calculations for the Oil & Gas . 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. Oil & Gas 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. Oil & Gas momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil & Gas momentum signal moves from positive to negative value or vice-versa.
Oil & Gas trend
Oil & Gas trend signal ranges from -100 to +100. Oil & Gas 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. Oil & Gas Closing price vs Oil & Gas moving average (MA) calculation: If Oil & Gas is greater than Oil & Gas MA value is +1, else -1, 2. Oil & Gas Moving average slope calculation: if current Oil & Gas moving average is higher than the previous MA, Oil & Gas upward slope +1, else -1
Oil & Gas trend model can be used as a trend strength indicator. Oil & Gas trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil & Gas trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Oil & Gas 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil & Gas is in an uptrend when Oil & Gas price is higher than the 52-week moving average and the Oil & Gas 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 Oil & Gas oscillator and Oil & Gas RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Oil & Gas oscillator
The Oil & Gas oscillator estimated by MacroVar is the z-score of the currentOil & Gas price versus Oil & Gas 1-year simple moving average price. The formula for the Oil & Gas oscillator is:
Oil & Gas oscillator = (Current Price – 250 trading days Oil & Gas simple moving average price) / (250 days Oil & Gas price standard deviation)
Oil & Gas oversold conditions
Oil & Gas is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil & Gas is oversold it is often due for a rebound. Values of the Oil & Gas oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil & Gas oscillator must be analyzed ibn conjunction with the rest ofOil & Gas 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 Oil & Gas RSI.
Oil & Gas overbought conditions
Oil & Gas is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil & Gas is overbought it is often due for a correction. Values of the Oil & Gas oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil & Gas 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.
Oil & Gas 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 Oil & Gas is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil & Gas 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.
Oil & Gas returns
MacroVar calculates Oil & Gas returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Oil & Gas returns = (Oil & Gas Closing Price – Oil & Gas Previous Price)/(Oil & Gas Previous Price)
level”:1} –>
Oil & Gas Industry
Monitor and predict the growth prospects and potential risks of the Oil & Gas industry by examining the financial and macroeconomic factors affecting it and the latest Oil & Gas news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil & Gas 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 Oil & Gas industry trend, growth prospects and risks.
Oil & Gas Industry Markets
| Market | Symbol | Last | Mom | Trend | Exh | RSI | 1D% | 1W% | 1M% | 1Y% |
|---|---|---|---|---|---|---|---|---|---|---|
| US Oil & Gas industry | US.INDOILGAS | 716.32 | -50 | 25 | 0 | 42.98 | 1.14 | -4.94 | -8.7 | 44.4 |
| Europe Oil & Gas industry | EU.OIL | 540.98 | -1 | -1 | -1.12184 | 36.6301 | -2.19 | -6.59 | -8.31 | -0.4047 |
| STOXX Asia Pacific 600 Oil & Gas | APAC.OILGAS | 138.39 | -0.5 | -0.75 | -1.08851 | 38.1938 | 0.7 | -5.77 | -9.04 | -0.33968 |
| Eastern Europe Oil & Gas | EEU.OILGAS | 134.86 | -1 | -0.75 | -1.22185 | 38.5299 | -0.13 | -5.29 | -16.77 | -0.34199 |
| US Oil & Gas Credit Spreads | US.OILGAS.CR | 192.71 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Europe Oil & Gas Credit Spreads | EU.OILGAS.CR | 226.94 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oil & Gas Industry News
Oil & Gas Industry Analysis
MacroVar monitors the performance, risk, trend and momentum of the Oil & Gas industry by examining the stock and credit performance of major Oil & Gas companies across the US, Europe, Eastern Europe and Asia Pacific. Oil & Gas Stock performance is monitored by analyzing STOXX equity indices of major Oil & Gas companies while Oil & Gas credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil & Gas high yield corporate bond market.
MacroVar also monitors fundamental indicators closely linked to the Oil & Gas 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 Oil & Gas industry like closely related financial markets or macroeconmic indicators.
MacroVar estimates the following signals: Oil & Gas momentum, Oil & Gas trend, Oil & Gas oscillator, Oil & Gas RSI and Oil & Gas returns.
Oil & Gas Industry Description
The Oil & Gas industry includes the economic sectors of Oil & Gas producers, Oil equipment, services and distribution and alternative energy. The Oil & Gas production sector includes the subsectors of Exploration & Production and integrated & oil gas. The exploration & production subsector includes companies engaged in the exploration for and drilling, production, refining and supply of oil and gas producs. Integrated Oil & Gas subsector includes companies engaged in the exploration for drilling, production, refining, distribution and retail sales of oil and gas products. The Oil Equipment, Services & Distribution sector includes the subsectors of Oil Equipment & Services and Pipelines. The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismicinformation services and platform construction. The Pipelines subsector includes companies engaged in the operation of pipelines carrying oil, gas or other forms of fuel. Excludes pipeline operators that derive the majority of their revenues from direct sales to end users, which are classified under Gas Distribution.The Alternative Energy sector includes the subsectors of Renewable Energy Equipment and Alternative Fuels. The Renewable Energy Equipment subsector includes companies that develop or manufacture renewable energy equipment utilizing sources such as solar, wind, tidal, geothermal hydro, and waves. The Alternative Fuels subsector includes companies that produce alternative fuels such as ethanol, methanol, hydrogen and biofuels that are mainly used to power vehicles, and companies that are involved in the production of vehicle fuel cells and/ or the development of alternative fuelling infrastructure.
Oil & Gas 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 Oil & Gas momentum signal ranges from -100 to +100. The Oil & Gas momentum signal is derived as the mean value from 4 calculations for the Oil & Gas . 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. Oil & Gas 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. Oil & Gas momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil & Gas momentum signal moves from positive to negative value or vice-versa.
Oil & Gas trend
Oil & Gas trend signal ranges from -100 to +100. Oil & Gas 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. Oil & Gas Closing price vs Oil & Gas moving average (MA) calculation: If Oil & Gas is greater than Oil & Gas MA value is +1, else -1, 2. Oil & Gas Moving average slope calculation: if current Oil & Gas moving average is higher than the previous MA, Oil & Gas upward slope +1, else -1
Oil & Gas trend model can be used as a trend strength indicator. Oil & Gas trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil & Gas trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Oil & Gas 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil & Gas is in an uptrend when Oil & Gas price is higher than the 52-week moving average and the Oil & Gas 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 Oil & Gas oscillator and Oil & Gas RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
Oil & Gas oscillator
The Oil & Gas oscillator estimated by MacroVar is the z-score of the currentOil & Gas price versus Oil & Gas 1-year simple moving average price. The formula for the Oil & Gas oscillator is:
Oil & Gas oscillator = (Current Price – 250 trading days Oil & Gas simple moving average price) / (250 days Oil & Gas price standard deviation)
Oil & Gas oversold conditions
Oil & Gas is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil & Gas is oversold it is often due for a rebound. Values of the Oil & Gas oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil & Gas oscillator must be analyzed ibn conjunction with the rest ofOil & Gas 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 Oil & Gas RSI.
Oil & Gas overbought conditions
Oil & Gas is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil & Gas is overbought it is often due for a correction. Values of the Oil & Gas oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil & Gas 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.
Oil & Gas 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 Oil & Gas is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil & Gas 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.
Oil & Gas returns
MacroVar calculates Oil & Gas returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Oil & Gas returns = (Oil & Gas Closing Price – Oil & Gas Previous Price)/(Oil & Gas Previous Price)