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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WTI Crude Oil markets initially fell during the trading session on Wednesday, but then exploded to the upside as value hunters came back into the marketplace, based upon the uptrend line that has been so supportive in the past.
The WTI Crude Oil market has gone back and forth during the day on Tuesday, showing respect to the longer-term uptrend line and the 100-day simple moving average.
The WTI Crude Oil market fell significantly during the trading session on Monday, breaking below the $67 level.
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West Texas Intermediate crude oil fell significantly during the trading session on Friday, as the US dollar continues to strengthen.
The WTI Crude Oil market broke down significantly during the trading session on Thursday, reaching down towards the $70.50 level, which is testing a major support level that extends down to the $70 level.
The WTI Crude Oil market fell during the trading session on Wednesday, reaching as low as $71.25 after we got a surprise addition to inventory numbers in the United States.
The WTI Crude Oil market fell slightly during the day as the $72.50 level offered a bit of resistance.
The WTI Crude Oil market continues to show signs of strength, making a fresh, new high again.
The WTI Crude Oil market went back and forth during trading on Friday, as we have gotten a bit overextended.
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The WTI Crude Oil market has been very volatile during trading on Thursday, initially breaking above the $72 level only to turn around and form a shooting star.
The WTI Crude Oil market has gone back and forth during the session on Wednesday, but eventually found buyers.
The WTI Crude Oil market had a volatile session during trading on Tuesday, initially trying to go higher but finding enough resistance at the $72 level to turn things around.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market has been very noisy during trading on Monday, initially dipping towards the $70 level only to turn around and rally again.
The WTI Crude Oil market fell significantly on Friday. The natural gas markets have rallied a bit during the trading session on Friday, reaching towards the $2.80 level.
The WTI Crude Oil market went back and forth during the trading session on Thursday, as we continue to see a lot of volatility when it comes to the crude oil markets.