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 during the day on Wednesday, breaking out to the upside, clearing the $68 level.
The WTI Crude Oil market has been very noisy during the trading session on Tuesday, going back and forth.
The WTI Crude Oil market pulled back slightly during the trading session on Monday, losing 1.6% by the time the markets closed for the day.
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The WTI Crude Oil market continues to try to go higher during the trading session on Friday, but as you can see struggled a bit.
The WTI Crude Oil market initially pulled back during trading on Thursday but found enough support near the $66 level to turn around and form a bit of a hammer.
The WTI Crude Oil market rallied significantly during the trading session on Wednesday, reaching towards the $67 level.
The WTI Crude Oil market rallied a bit during the trading session on Monday, as the uptrend line has held.
The WTI Crude Oil markets fell hard during the trading session on Friday, giving back all signs of strength as we reached towards the uptrend line based upon fears of a trade war.
The WTI Crude Oil market fell significantly during the trading session on Wednesday.
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The WTI Crude Oil market had a choppy session on Thursday, going back and forth during the day, essentially doing nothing.
The WTI Crude Oil market has been very noisy during the trading session on Monday, breaking above the $66 level, before running into a buzz saw of resistance.
The WTI Crude Oil market had a bullish session on Monday, breaking over 2% to the upside.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market was very noisy during trading on Monday, initially dipping lower, but as you can see we are found buyers.
The WTI Crude Oil market rallied a bit during the trading session on Thursday but has rolled over a bit to show signs of lackluster behavior.
The WTI Crude Oil market went back and forth during trading on Wednesday, as we continue to bounce from the uptrend line that you see on the chart.