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 West Texas Intermediate Crude Oil (WTI) market displayed a back-and-forth movement during Friday's trading session, nearing the upper boundary of its short-term range.
The West Texas Intermediate (WTI) Crude Oil market experienced an initial pullback during Thursday's trading session, only to rebound and show signs of resilience.
The West Texas Intermediate (WTI) Crude Oil market made notable strides early on Wednesday, breaking above the $70 mark.
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Both WTI Crude Oil and Brent exhibit signs of recovery, with potential rallies towards key resistance levels.
The West Texas Intermediate (WTI) Crude Oil market experienced a significant downturn at the start of the trading week on Monday, continuing the trend of volatile behavior.
The West Texas Intermediate (WTI) Crude Oil market experienced a back-and-forth trading session on Friday, as the overall tone for the summer remains uncertain.
The trading session on Thursday saw the West Texas Intermediate (WTI) Crude Oil market and the Brent markets experience fluctuations and heightened volatility.
The West Texas Intermediate (WTI) Crude Oil market and the Brent market exhibited back-and-forth movement during Wednesday's trading session, highlighting the prevalence of noisy behavior.
The West Texas Intermediate (WTI) Crude Oil market experienced further declines during Tuesday's trading session, erasing the entire gap that formed after OPEC's announcement of a significant 1 million barrel production cut.
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Starting with WTI Crude Oil, the market witnessed an upside gap on Monday following OPEC's decision to cut over 1 million barrels per day.
West Texas Intermediate (WTI) crude oil exhibited a significant rally during the Friday trading session, inching closer to the significant $72 level.
The West Texas Intermediate Crude Oil market and its counterpart, Brent, faced another day of uncertainty as they attempted to rally but succumbed to weakness.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market witnessed a significant decline during Wednesday's trading session, as it continues to grapple with challenges.
The WTI Crude Oil market exhibited a volatile trading session on Tuesday, initially rallying before reversing and displaying erratic behavior.
The West Texas Intermediate (WTI) Crude Oil market exhibited a slightly negative tone during Monday's trading session, but it's important to note that it was Memorial Day, resulting in limited activity dominated by electronic trading.