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 a bit during the trading session on Wednesday, gaining 1.6% as I record this.
The WTI Crude Oil markets have been noisy during the trading session again on Tuesday, as we have tried to wipe out the gains from the Monday session.
The WTI Crude Oil market initially dropped at the open on Monday but turned around to shoot straight up in the air.
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The WTI Crude Oil market fell apart during the day on Friday, losing over 4% in closing that the absolute lows.
The WTI Crude Oil market rallied slightly during the trading session on Thursday, gaining 0.5% for the day.
The WTI Crude Oil market initially pulled back a bit during the day on Tuesday but rallied to break above the top of the shooting star from the previous session.
The WTI Crude Oil market initially tried to rally during the day on Tuesday but gave back much of the gains.
The WTI Crude Oil market has initially pulled back a bit during the trading session on Monday, only to turn around and form a hammer.
The WTI Crude Oil market lost 0.4% during the trading session on Friday but remained supportive just below by an uptrend line.
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The WTI Crude Oil market rallied significantly during the trading session on Thursday, slamming into the $66 level.
The WTI Crude Oil market initially tried to rally during the trading session on Wednesday only to find resistance at the $66 level and start falling again.
The WTI Crude Oil market went back and forth during trading on Tuesday, as we are testing the $65 region.
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The WTI Crude Oil market fell significantly on Friday, reaching towards a major uptrend line.
The WTI Crude Oil market fell rather hard during the trading session on Thursday, especially once we started talking about tariffs coming from the United States and applied towards the Canadians, Mexicans, and Europeans.