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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Natural gas markets went back and forth during the trading session on Friday, as we got inventory figure slightly better than anticipated.
The West Texas Intermediate Crude Oil market has broken higher during the trading session on Friday, reaching above the $62.50 level.
The West Texas Intermediate Crude market has pulled back a bit during the trading session on Thursday, as we continue to grind back and forth in this general vicinity.
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Natural gas markets broke down a bit during the trading session on Thursday as traders came back to work, making the back of a hammer from the previous trading session.
The West Texas Intermediate Crude Oil market initially pulled back during the trading session but did bounce a bit on Tuesday.
Natural gas markets have initially pulled back during the trading session on Tuesday but have shown quite a bit of resiliency by bouncing and forming a bit of a hammer.
The West Texas Intermediate Crude Oil market went back and forth during the trading session on Monday, showing signs of exhaustion at the $62.50 level,
Natural gas markets fell a bit during the trading session on Monday, to test the psychologically and structurally important $2.20 level
The West Texas Intermediate Crude Oil market did almost nothing during the day on Friday, as the markets have gotten a bit overextended.
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Natural gas markets initially fell during the trading session on Friday to pierce the $2.20 level.
Natural gas markets rallied significantly during the trading session on Thursday, using the $2.20 level as a springboard.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Thursday, as we continue to reach towards the highs of the overall consolidation area.
The West Texas Intermediate Crude Oil market has rallied significantly during Christmas Eve, showing signs of extraordinarily bullish pressure again.
The West Texas Intermediate Crude Oil market rallied slightly during the trading session on Monday in very thin trading.
Natural Gas gapped lower to kick off the trading week on Monday, as we again have seen a lot of bearish pressure into this marketplace.