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 pulled back just a bit on Thursday, but at this point in time, we are a little stretched at the moment.
The West Texas Intermediate Crude Oil market rallied rather significantly on Wednesday as we see plenty of buying pressure in this market.
The West Texas Intermediate Crude market has initially fallen on Tuesday but then turned around to show signs of life again.
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The West Texas Intermediate Crude Oil market rallied on Friday after initially falling.
The West Texas Intermediate Crude Oil market rallied on Friday after initially falling.
The West Texas Intermediate Crude Oil market has fallen rather hard on Thursday, but turned around to show signs of life just above the $110 level.
The West Texas Intermediate Crude Oil market initially tried to rally on Wednesday but gave back gains as we continue to hear a lot of noise in the market.
The West Texas Intermediate Crude Oil market rallied a bit on Monday, but it should be noted that volume will have been a bit lighter than usual as it was all after-hour trading as the Americans were celebrating Memorial Day.
The West Texas Intermediate Crude Oil market initially pulled back just a bit on Friday but turned around to show signs of life again.
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The West Texas Intermediate Crew Oil market rallied during the training session on Thursday to slam into the $115 level.
The West Intermediate Crude Oil market did very little on Wednesday as we continue to see the market shows very little in the way of momentum.
The West Texas Intermediate Crude Oil market did very little on Tuesday as we continue to hang about the $110 level.
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The West Texas Intermediate Crude Oil market initially pulled back a bit on Friday but then found buyers again to break above the $110 level.
The West Texas Intermediate Crude Oil market initially fell during the trading session on Thursday to reach the crucial 50 Day EMA.