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 market has rallied a bit during the trading session on Friday, as we are now slicing through the 50-Day EMA and testing the $80 level.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Thursday, touching the 50-Day EMA.
The West Texas Intermediate Crude Oil market has pulled back just a bit early during the day on Tuesday, only to turn around and show signs of life.
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The West Texas Intermediate Crude Oil market gave up early gain during the trading session on Monday, as we shot above the $75 level, only to see more selling pressure.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, to reach the $75 level.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday, as it looks like we are threatening the $75 level.
The West Texas Intermediate Crude Oil market has fallen rather hard during the trading session on Wednesday, as we have sliced through the $75 level
The West Texas Intermediate Crude Oil market rallied a bit on Friday, and of course was closed on Monday, at least in the futures market.
The West Texas Intermediate Crude Oil market has gone back and forth during the session on Thursday, as we continue to see a lot of noisy behavior just below the 50-Day EMA.
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The WTI Crude Oil market continues to struggle in general, as we have seen a lot of concerns about global growth.
The West Texas Intermediate Crude Oil market has broken above the 50-Day EMA, albeit just barely.
The West Texas Intermediate Crude Oil market rallied on Friday to show signs of life again, reaching the 50-Day EMA.
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The West Texas Intermediate Crude Oil market has tried to rally during the trading session on Thursday.
The West Texas Intermediate Crude Oil market has rallied slightly during the trading session on Tuesday, to gain 47 basis points.
The West Texas Intermediate Crude Oil market has fallen rather hard during the Friday session, as we head into the weekend.