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 done very little for the last several weeks, bouncing around in the same area that we have been in for a while.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday as we had broken toward the $89 level.
The West Texas Intermediate Crude Oil market has rallied to reach the $89 level on Friday, as we continue to dance around the 50-Day EMA.
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The West Texas Intermediate Crude Oil market has plunged lower during the trading session on Wednesday to reach down toward the $86 level.
The West Texas Intermediate Crude Oil market has fallen slightly during the trading session on Thursday, testing the 50-Day EMA.
The West Texas Intermediate Crude Oil market has rallied again during the session on Wednesday as we await Federal Reserve guidance.
The West Texas Intermediate Crude Oil market did very little during the trading session on Friday, as we have seen a bit of non-volatile trading for a couple of days in a row.
The West Texas Intermediate Crude Oil market had a very strong showing on Wednesday, breaking above the 50-Day EMA and the $88 level.
The West Texas Intermediate Crude Oil market continues to see a lot of a sideways grind, as the market has been noisy to say the least.
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The West Texas Intermediate Crude Oil market has gone back and forth over the course of the trading session on Monday, as we continue to hang around the $85 level.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Friday,
The West Texas Intermediate Crude Oil market initially rallied on Thursday but has given back gains to form a less than attractive candlestick.
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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 has fallen rather significantly during the course of the trading session on Tuesday
The Crude Oil market has tried to rally a bit during the session on Monday, but gave back gain as it looks like we are threatening the $85 level.
The West Texas Intermediate Crude Oil market has fallen hard during the Friday session, as we continue to grind back and forth.