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, but at this point, it looks to me as if we are heading close to a major resistance region.
The West Texas Intermediate Crude Oil market pulled back initially on Wednesday to test the lows yet again.
The West Texas Intermediate Crude Oil market pulled back a bit on Tuesday after rallying.
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The West Texas Intermediate Crude Oil market bounced a bit Monday as we continue to see this market throw a lot of volatility back and forth.
The West Texas Intermediate Crude Oil market got a little bit of a bounce on Friday as the job number in America came out with over half a million jobs for the month of July.
The West Texas Intermediate Crude Oil market has finally broken down on Thursday as the market is starting to price and the idea of a recession.
The West Texas Intermediate Crude Oil market initially tried to rally Wednesday but then plunged quite rapidly.
The West Texas Intermediate Crude Oil market rallied a bit Tuesday as we continue to hang around the 200-day EMA.
The West Texas Intermediate Crude Oil market broke through 200-day EMA Monday, showing further signs of weakness.
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The West Texas Intermediate Crude Oil market rallied significantly Friday to break above the $100 level initially but has turned around to show signs of exhaustion.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Thursday.
The West Texas Intermediate Crude Oil market has been somewhat tight Wednesday as we continue to see the oil markets worry about multiple issues at the same time.
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Sign up to get the latest market updates and free signals directly to your inbox.The West Texas Intermediate Crude Oil market initially tried to rally on Tuesday but gave back gains as we got a little bit too close to the $100 level.
The West Texas Intermediate Crude Oil market initially fell on Monday to break through the 200-day EMA, which is a rather negative turn of events.
The West Texas Intermediate Crude Oil market pulled back significantly Friday to show signs of negativity, but we are sitting at the 200-day EMA and have bounced from there significantly.