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 (WTI) crude oil and Brent markets have displayed signs of resilience, recovering slightly after a recent sell-off.
The WTI and Brent oil markets experienced a slight pullback in the recent trading session, testing the top of their respective triangles after breaking out.
The West Texas Intermediate (WTI) Crude Oil market rallied during Wednesday's trading session, approaching the 50-Day Exponential Moving Average (EMA).
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The trading sessions for WTI Crude Oil and Brent markets have shown some strength, yet they remain confined within consolidation areas that have persisted for some time.
The West Texas Intermediate (WTI) Crude Oil market kicked off the week downward but quickly reversed, indicating signs of life.
The West Texas Intermediate (WTI) Crude Oil market experienced an initial rally during Friday's trading session but quickly relinquished its gains.
The West Texas Intermediate (WTI) Crude Oil market witnessed a slight pullback during Thursday's trading session, reflecting the prevailing noise and volatility in the market.
During Wednesday's trading session, the WTI Crude Oil market displayed indecisiveness, hovering above the $70 level.
The West Texas Intermediate (WTI) Crude Oil market displayed indecisiveness during Tuesday's trading session, hovering above the $70 level.
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The West Texas Intermediate (WTI) Crude Oil market experienced a slight bounce during Monday's trading session, demonstrating signs of life around the $70 level.
The WTI Crude Oil (US Oil) market experienced an initial attempt to rally during Thursday's session, but quickly retraced its gains, indicating signs of hesitation and exhaustion.
The oil markets have been showing some interesting price action recently, with both WTI and Brent pulling back slightly during Wednesday's trading session only to turn around and show signs of life.
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Sign up to get the latest market updates and free signals directly to your inbox.The West Texas Intermediate Crude Oil market was somewhat soft during Tuesday's trading session, with the recent bear market rally causing some hesitation.
The crude oil markets have seen a bit of a rebound during Monday's trading session, as they recover from the massive plunge in recent weeks.
After weeks of significant declines in the oil markets, it appears that a rebound may be on the horizon.