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Technical Analysis
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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Technical Analysis
Technical Analysis
Technical Analysis
Crude oil remains under pressure as failed rallies confirm persistent bearish momentum. Supply glut and weak demand cap prices below $60, with further downside likely absent a major shock.
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NZD/USD tests key resistance at 0.58, with signs of exhaustion likely to trigger selling as traders brace for a potentially hawkish Fed tone after next week’s rate decision.
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Crude oil remains range-bound between $55 and $60 amid thin holiday trading, with resistance holding firm and short-term selling signals emerging near key levels.
Technical Analysis
Crude oil is attempting a short-term bounce from recent lows, but oversupply, weak demand, and resistance near $60 continue to favor bearish momentum within a defined range.
Technical Analysis
Crude oil rallied on Friday but stalled below $62, as weak demand and strong resistance continue to cap upside momentum in a volatile, range-bound market.
Technical Analysis
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Crude oil fell sharply Wednesday as persistent market instability and weak global demand outweighed Russian sanctions, with prices eyeing support near $55–$56.
Technical Analysis
Crude oil remains under pressure as rallies toward $60–$62 face resistance, with abundant global supply and economic uncertainty keeping bulls cautious.
Technical Analysis
Crude oil remains pressured below $62, with short-term rallies facing selling as weak demand and ineffective sanctions contribute to ongoing oversupply concerns.
Technical Analysis
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Crude oil continues to struggle beneath the $62 resistance level, as traders weigh high global supply, sanctions noise, and a soft economic outlook.
Technical Analysis
Crude oil is consolidating below $62, with supply-heavy fundamentals and macroeconomic risks capping upside, while a drop toward $58.50 remains a plausible scenario.
Technical Analysis
Crude oil prices are rising but face strong resistance at $62, with analysts eyeing signs of exhaustion for potential downside amid skepticism over sanctions impact.
Technical Analysis
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Crude oil soared 6% on Thursday following new Russian sanctions, but analysts caution that strong resistance near $62.50 may cap further gains unless follow-through buying emerges.
Technical Analysis
Crude oil prices are attempting to form a bottom near $55, with technical signs hinting at a short-term bounce within a $55–$60 trading range.
Technical Analysis
Crude oil prices continued to drop on Friday, with heavy selling pressure threatening the critical $55 support as oversupply concerns dominate the market.
Technical Analysis