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 experienced a slight retreat during Wednesday's trading session, which could be attributed to a potential overextension in the market.
Crude oil markets remain turbulent, and Tuesday's trading session showcased relatively subdued activity as traders pondered the next move.
The world of crude oil trading has been marked by considerable volatility as it grapples with the oscillation between the 50-Day and 200-Day Exponential Moving Average indicators.
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Crude oil markets experienced a slight rally during the early hours of Wednesday's trading session, as the effects of OPEC production cuts continue to reverberate through the industry.
The crude oil market exhibited a relatively stagnant performance during Tuesday's trading session, with marginal gains compared to the preceding days.
The oil markets displayed a back-and-forth movement during Monday's trading session, contributing to increased volatility early in the week.
The Crude Oil markets have recently experienced periods of volatility, primarily triggered by their retracement from the 200-Day Exponential Moving Average.
The West Texas Intermediate Crude Oil market and the Brent markets have recently shown signs of consolidation, with both facing resistance at key levels.
The West Texas Intermediate and Brent crude oil markets are showing signs of strength as they attempt to break key resistance levels.
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The West Texas Intermediate Crude Oil market opened slightly negative on Monday but found support from buyers, aiming to push towards the $75 level.
During Friday's trading session, the WTI and Brent crude oil markets experienced limited upward movement, as they remained broke the 50-Day EMA.
The WTI and Brent markets have witnessed a back-and-forth trading session, with both facing significant resistance at the 50-Day Exponential Moving Average.
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The WTI and Brent oil markets experienced a notable rally during Wednesday as traders returned from the Independence Day holiday in the United States.
The West Texas Intermediate (WTI) Crude Oil market experienced a minor rally during Tuesday's trading session.
The West Texas Intermediate (WTI) Crude Oil market experienced a challenging trading session on Monday as it struggled to gain momentum beyond the 50-Day Exponential Moving Average.