Oil is one of the most commonly traded commodities in the world, and is available for trade in most of the top Forex trading platforms, as well as in many leading binary options platforms.
Oil is often known as petroleum, though in reality, petroleum is the result of the processing of crude oil, a natural liquid that is found underground. Crude oil prices fluctuate based on a variety of factors including natural disasters, political factors and fluctuations in the currency markets.
Likewise, oil prices also affect the Forex market, and therefore, it’s hardly surprising that many Forex traders also keep an eye on crude oil prices, and many even trade crude oil as a way to diversify their trading. To help you expand your trading horizons, the DailyForex trading room is happy to provide you with regular crude oil price technical analysis – we hope that it helps you trade profitably!
Most Recent
Crude oil prices bounced off $65 support, forming a hammer candlestick as trade deals lift demand hopes, though excess OPEC supply caps gains within a $65–$70 range.
Crude oil prices continue to find support near $65, with summer seasonality and rangebound trading pointing to consolidation unless a strong catalyst breaks the $70 ceiling.
Crude oil is recovering with technical signals pointing to further upside, supported by seasonal demand and strong levels near $64–$65.
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Crude oil bounced from key $66 support on Wednesday, forming a bullish hammer pattern as seasonal trends and economic optimism support potential upside.
Crude oil remains in a noisy, consolidated phase near the 50-day EMA, with traders eyeing a potential grind toward $70 or a pullback to $65.
Crude oil reversed early losses on Monday with a strong bullish engulfing candle off the $65 support, signaling renewed upside momentum toward $75.
Despite Thursday’s pullback, crude oil remains above key $65 support, with seasonal demand and bullish structure hinting at a potential grind higher.
Crude oil prices stabilized at $65 on Thursday as the market digests geopolitical calm and weak U.S. GDP, with technicals suggesting a slow grind higher.
Despite gapping lower, crude oil quickly bounced as tensions between Israel and Iran escalate. Strong technical support at 200 Day EMA could trigger bullish continuation.
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Crude oil gapped higher Monday but sharply reversed, signaling caution amid Middle East tensions. Support near the 200-day EMA at $65 could attract buyers soon.
Oil prices jumped sharply—gaining nearly $9—after Israeli strikes on Iran, with gains stalling at $72.50. Expect further volatility on weekend headlines.
Crude oil markets remain volatile amid rising supply and rate cut speculation. Bulls eye $72.50 resistance while $65 holds as key support.
Crude oil prices continue to press against the $65 resistance level, with rising volume and economic signals suggesting a possible breakout amid upcoming NFP volatility.
Crude oil continues to test major resistance near $65, with rising demand and bullish momentum suggesting a potential breakout despite ongoing OPEC supply concerns.
Crude oil jumped on Monday amid geopolitical concerns, but remained stuck in its $60–$65 range as traders weigh OPEC output against support-driven buying.