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It is volatile enough to tear your head right off without warning. You should know that it attracts a lot of people who see an opportunity but do not see the risk. It's an easy thing to go broke in, and quickly.
If you're just starting in futures, it may be wiser to try something else first. Stock index futures (especially ES, the S&P futures contract, and actually MES, the micro version of the S&P contract) are slower and sort of boring by comparison... and are far safer and may be a better initial choice. I would look around a little first.
I don't mean to discourage you if oil is definitely your choice.... Well, actually, I do mean to discourage you , at least about oil. My suggestion is to be extremely cautious if oil is what you try the first time out. Money gets lost in oil very fast.
I would look around this forum and absorb as much as you can, about oil and also about futures trading in general. Also, I would avoid any offers from anyone to show you something special that will help you, if it is not free or low-cost and publicly available. It will help them, not you.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
If you are still open for more options, you try fxview. They post crude oil fundamentals on socials like facebook. Also they post charts with resistance and support levels. Can be really helpful for tracking events.
I agree Ron you gotta be able to withstand the heat from time to time. CL is it's own beast and technical analysis can go right out the window. I use to trade the inventory report and it was almost to say free money. Since the oil crash in April I just don't see the EIA report like in the past and have pretty much ignored them. I'll go in from time to time on any given day on an impulse or responsive PA (context in mind) other than that I've been treading very differently since then.
, at least about oil. My suggestion is to be extremely cautious if oil is what you try the first time out. Money gets lost in oil very fast.
