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 quite a bit during trading on Monday as we came back to work.
The WTI Crude Oil market broke down rather significantly during trading on Friday as the jobs number came out much weaker than anticipated.
The WTI Crude Oil market rallied a bit during the trading session on Thursday but gave back about half the gains as the US dollar picked up strength after the ECB press conference.
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The WTI Crude Oil market fell significantly during the trading session on Wednesday after a very poor inventory figures came out.
The WTI Crude Oil market went back and forth during the trading session on Tuesday, as we continue to be very choppy and very sideways.
The WTI Crude Oil market initially shot higher during the course of the trading session on Monday, as we continue to see a lot of optimism about the US/China trade situation.
The WTI Crude Oil market initially tried to rally during the trading session on Friday, but broke down significantly at the highs again, as we continue to simply go back and forth.
The crude oil markets continue to look a bit lost, as we are simply bouncing around in a relatively tight range.
The WTI Crude Oil market rallied significantly during the trading session on Wednesday as the inventory numbers were extraordinarily bullish.
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The WTI Crude Oil market bounced a slight bit during trading on Tuesday, as we continue to see a lot of interest near the $55 level.
The WTI Crude Oil market broke down significantly during the trading session on Monday, as we had reached a significant resistance barrier
The WTI Crude Oil market found significant resistance above at the $57.50 level, as we continue to see massive supply at this area that had kicked off the last leg lower.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market pulled back during Thursday’s trading, as we continue to see a lot of resistance at the $57.50 level.
The WTI Crude Oil market went back and forth during the trading session initially on Wednesday, as we get the FOMC Meeting Minutes adding volatility to the market
The WTI Crude Oil market found buyers after initially dipping during the trading session on Tuesday, testing the $55 level.