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!
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The oil markets have been showing some interesting price action recently, with both WTI and Brent pulling back slightly during Wednesday's trading session only to turn around and show signs of life.
The West Texas Intermediate Crude Oil market was somewhat soft during Tuesday's trading session, with the recent bear market rally causing some hesitation.
The crude oil markets have seen a bit of a rebound during Monday's trading session, as they recover from the massive plunge in recent weeks.
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After weeks of significant declines in the oil markets, it appears that a rebound may be on the horizon.
The West Texas Intermediate Crude Oil market experienced a significant drop in value early on Thursday but was able to rebound after hitting a hard floor at the $65 level.
The WTI Crude Oil market took a big hit in Wednesday's trading session, as the market starts to price in just how bad the global recession could be.
The West Texas Intermediate (WTI) crude oil market has continued to show negative behavior, as concerns about the global economy contribute to a lack of demand for energy and crude oil.
On Monday, West Texas Intermediate (WTI) crude oil prices saw a slight retreat, reflecting the broader energy market's weakness.
The WTI and Brent oil markets are currently experiencing significant pressure due to the global economy's slowing down.
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The oil markets have been under significant pressure, with the West Texas Intermediate (WTI) and Brent markets both showing signs of negativity.
The West Texas Intermediate (WTI) crude oil market has been seeing a lot of noisy behavior lately but it seems to have found some support near the 50-Day EMA.
The West Texas Intermediate (WTI) Crude Oil market has shown some signs of a potential bullish stance on Friday, bouncing from the 50-Day EMA and closing the gap.
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Sign up to get the latest market updates and free signals directly to your inbox.On Thursday, the West Texas Intermediate (WTI) Crude Oil market fell slightly and is now testing the 50-Day EMA, which is a significant technical indicator for traders.
The WTI Crude Oil market was bearish during Wednesday’s trading session, indicating a possible gap fill as prices continue to fall towards the $77.30 level.
WTI Crude Oil (US Oil) and Brent, two major oil benchmarks, have experienced limited activity recently with WTI facing a downturn and Brent looking likely to fill the gap underneath.