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 continue to look very sluggish, and quite frankly probably will continue to offer selling opportunities every time it bounces.
The West Texas Intermediate crude oil market has gapped higher to kick off the trading session on Friday, pulled back a bit, and then shot out from the $52.50 level to slam into the $55 level.
Natural gas markets initially fell during the trading session on Friday but then turned around to bounce a bit during the trading session on Friday to show signs of support.
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The West Texas Intermediate crude market gapped a bit higher to kick off the trading session on Thursday, breaking above the $52.50 level.
Natural gas markets rally during the trading session on Thursday as we continue to reach towards the $2.15 level but also continue to see quite a bit of trouble.
Natural gas markets initially tried to rally during the trading session on Wednesday but found enough resistance to roll over yet again.
The West Texas Intermediate crude oil markets fell rather hard during the trading session on Wednesday, reaching down towards the $50 handle.
The WTI Crude Oil market initially tried to rally during the trading session on Tuesday but then gave back the gains above the $55 level.
Natural gas markets gapped a bit during the trading session on Tuesday, then reached towards the $2.15 level before selling off again.
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The WTI Crude Oil market continues to consolidate around a large, round, psychologically significant figure, as we are near the $55 handle.
Natural gas markets gapped lower to kick off the Monday trading session before grinding even lower.
The West Texas Intermediate market has been very choppy during the day on Friday, which isn’t a huge surprise considering we are hanging around the $55 level.
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West Texas Intermediate Crude broke down rather significantly during the trading session on Thursday, slicing down towards the $55 level.
The natural gas markets have initially tried to rally during the trading session on Thursday but have rolled over rather significantly at the 50 day EMA