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 WTI Crude Oil market rallied slightly during the trading session on Tuesday, showing signs of resiliency again.
The WTI Crude Oil market shot higher initially during trading on Monday, but then reversed drastically to form a rather negative candle stick.
The WTI Crude Oil market went back and forth during trading on Friday, as we continue to hug at the 50 day EMA in general.
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The WTI Crude Oil market fell a bit during the trading session on Thursday as we got a bit of a “risk off” move to kick off the session, but we did get a bit of a reprieve, bouncing from the 50 day EMA.
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, as we got a better than anticipated drawl down of US inventories.
The WTI Crude Oil market fell during the trading session and a chaotic move formed.
The WTI Crude Oil market had a wild ride during the trading session on Monday, as Donald Trump tweeted that he was going to raise tariffs against the Chinese.
The WTI Crude Oil market rallied a bit during the trading session on Friday, as the jobs number came out relatively bullish.
The WTI Crude Oil market got absolutely hammered during the trading session on Thursday, as we reached down towards the 50 day EMA.
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The WTI Crude Oil market initially pulled back during the trading session on Wednesday but has seen enough buying pressure underneath to push things back and show signs of a recovery.
The WTI Crude Oil market initially rallied on Tuesday but gave back quite a bit of the gains to turn around of form a bit of the shooting star.
The WTI Crude Oil market has shown bullish pressure yet again during the trading session on Monday, recovering quite nicely late in the day.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market got absolutely hammered on Friday, slicing through the $63 level.
The WTI Crude Oil market pulled back just a bit during the trading session on Wednesday as the EIA numbers came out with a build of over 5 million barrels.
The WTI Crude Oil market continues to show bullish pressure during the trading session on Tuesday, as we continue to see the $65 level left in the background.