Persistency of Price Patterns in the International Oil Industry, 2001-2016

Volume: 7 Number: 1 March 1, 2017
  • Ana Lorena Jiménez-preciado
  • Salvador Cruz-aké
  • Francisco Venegas-martínez
EN

Persistency of Price Patterns in the International Oil Industry, 2001-2016

Abstract

This paper is aimed at studying price patterns and their persistency in selected international oil companies (Exxon Mobil, British Petroleum, Royal Dutch Shell, and China Petroleum Sinopec). The proposal uses a one-step counting of price patterns and a two-step counting derived from transition probabilities of price patterns both procedures based on Japanese candlesticks. An extension of Kolmogorov-Smirnov test for discrete variables, provided by Taylor and Emerson (2011), is used to measure the statistical significance of the obtained results. Furthermore, the persistence of patterns is examined via the correlation in two-step conditional probabilities by using Blomqvist’s beta test. This method is useful to identify patterns even under market booms and busts, and in high and low volatility environments

Keywords

Details

Primary Language

English

Subjects

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Journal Section

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Authors

Ana Lorena Jiménez-preciado This is me

Salvador Cruz-aké This is me

Francisco Venegas-martínez This is me

Publication Date

March 1, 2017

Submission Date

March 1, 2017

Acceptance Date

-

Published in Issue

Year 2017 Volume: 7 Number: 1

APA
Jiménez-preciado, A. L., Cruz-aké, S., & Venegas-martínez, F. (2017). Persistency of Price Patterns in the International Oil Industry, 2001-2016. International Journal of Energy Economics and Policy, 7(1), 9-18. https://izlik.org/JA73KD89KR
AMA
1.Jiménez-preciado AL, Cruz-aké S, Venegas-martínez F. Persistency of Price Patterns in the International Oil Industry, 2001-2016. IJEEP. 2017;7(1):9-18. https://izlik.org/JA73KD89KR
Chicago
Jiménez-preciado, Ana Lorena, Salvador Cruz-aké, and Francisco Venegas-martínez. 2017. “Persistency of Price Patterns in the International Oil Industry, 2001-2016”. International Journal of Energy Economics and Policy 7 (1): 9-18. https://izlik.org/JA73KD89KR.
EndNote
Jiménez-preciado AL, Cruz-aké S, Venegas-martínez F (March 1, 2017) Persistency of Price Patterns in the International Oil Industry, 2001-2016. International Journal of Energy Economics and Policy 7 1 9–18.
IEEE
[1]A. L. Jiménez-preciado, S. Cruz-aké, and F. Venegas-martínez, “Persistency of Price Patterns in the International Oil Industry, 2001-2016”, IJEEP, vol. 7, no. 1, pp. 9–18, Mar. 2017, [Online]. Available: https://izlik.org/JA73KD89KR
ISNAD
Jiménez-preciado, Ana Lorena - Cruz-aké, Salvador - Venegas-martínez, Francisco. “Persistency of Price Patterns in the International Oil Industry, 2001-2016”. International Journal of Energy Economics and Policy 7/1 (March 1, 2017): 9-18. https://izlik.org/JA73KD89KR.
JAMA
1.Jiménez-preciado AL, Cruz-aké S, Venegas-martínez F. Persistency of Price Patterns in the International Oil Industry, 2001-2016. IJEEP. 2017;7:9–18.
MLA
Jiménez-preciado, Ana Lorena, et al. “Persistency of Price Patterns in the International Oil Industry, 2001-2016”. International Journal of Energy Economics and Policy, vol. 7, no. 1, Mar. 2017, pp. 9-18, https://izlik.org/JA73KD89KR.
Vancouver
1.Ana Lorena Jiménez-preciado, Salvador Cruz-aké, Francisco Venegas-martínez. Persistency of Price Patterns in the International Oil Industry, 2001-2016. IJEEP [Internet]. 2017 Mar. 1;7(1):9-18. Available from: https://izlik.org/JA73KD89KR