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 has rallied a bit during the trading session on Wednesday but gave back much of the gains.
The WTI Crude Oil market has broken down significantly during the trading session after initially gapping on Tuesday.
he WTI Crude Oil market initially tried to rally during the trading session on Monday, but then turned around to fall again.
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The WTI Crude Oil market fell again on Friday, breaking below the $60 level at one point.
The WTI Crude Oil market initially tried to rally during the trading session on Thursday but found resistance again at the $62.50 level.
The WTI Crude Oil market continues to fall lower, breaking significantly below the $62.50 level during the Wednesday session.
The WTI Crude Oil market has struggled a bit again during the trading session on Tuesday as we hover around the $62.50 level.
The WTI Crude Oil market initially tried to rally during the trading session on Monday but turned around of form a bit of a shooting star or perhaps even an inverted hammer for the day.
The WTI Crude Oil market gapped up a bit lower at the open on Friday, turned around to rally, and then broke down towards the $62.50 level.
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The WTI Crude Oil markets gapped lower to kick off the session on Thursday, turned around to fill that gap, and then broke down again.
The WTI Crude Oil market has been very negative during trading on Wednesday, slicing through the $65 level.
The WTI Crude Oil market fell significantly during the trading session on Tuesday after gapping lower, breaking below the major uptrend line.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market initially tried to rally on Monday, but the sellers came back in and sent this market back into consolidation.
The WTI Crude Oil market has bounced off the major trendline that I have marked on the daily chart.
The WTI Crude Oil market had a solid day on Thursday, reaching towards the $67.50 level.