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 West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday, as it looks like we are threatening the $75 level.
The West Texas Intermediate Crude Oil market has fallen rather hard during the trading session on Wednesday, as we have sliced through the $75 level
The West Texas Intermediate Crude Oil market rallied a bit on Friday, and of course was closed on Monday, at least in the futures market.
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The West Texas Intermediate Crude Oil market has gone back and forth during the session on Thursday, as we continue to see a lot of noisy behavior just below the 50-Day EMA.
The WTI Crude Oil market continues to struggle in general, as we have seen a lot of concerns about global growth.
The West Texas Intermediate Crude Oil market has broken above the 50-Day EMA, albeit just barely.
The West Texas Intermediate Crude Oil market rallied on Friday to show signs of life again, reaching the 50-Day EMA.
The West Texas Intermediate Crude Oil market has tried to rally during the trading session on Thursday.
The West Texas Intermediate Crude Oil market has rallied slightly during the trading session on Tuesday, to gain 47 basis points.
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The West Texas Intermediate Crude Oil market has fallen rather hard during the Friday session, as we head into the weekend.
The West Texas Intermediate Crude Oil market has pulled back just a bit during the trading session on Thursday, to test the crucial $75 level.
The West Texas Intermediate Crude Oil market rallied again during the trading session on Wednesday, as we have started to recover from extremely oversold conditions.
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The West Texas Intermediate Crude Oil market has rallied a bit during the session on Tuesday, as we continue to see a bit of a recovery in this market that has been so oversold.
The West Texas Intermediate Crude Oil market has rallied a bit during the session on Monday, but it still faces a rather large test near the $75 level.
The West Texas Intermediate Crude Oil market has initially tried to rally again during the day on Friday, but as we have seen multiple times, the market has fallen apart, and it looks like we are seemingly hell-bent on going down to the $70 level.