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 fell quite drastically on Wednesday.
The West Texas Intermediate Crude Oil market fell hard on Tuesday as traders came back from holiday in America.
The WTI Crude Oil market had a relatively positive Independence Day, but it should be noted that volume was a bit thin as most trading was electronic and off hours.
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The West Texas Intermediate Crude Oil market bounce a bit on Friday to show signs of this bounce from a relatively significant trend line.
The West Texas Intermediate Crude Oil market has fallen during trading on Thursday to break through a trendline.
The West Texas Intermediate Crude Oil market initially rallied on Wednesday but gave back gains to form a bit of a shooting star.
The West Texas Intermediate Crude Oil market has rallied again on Tuesday to break above the 50-day EMA.
The West Texas Intermediate Crude Oil market rallied after initially falling on Monday to show signs of life again.
The West Texas Intermediate Crude Oil market rallied a bit on Friday as we had been testing a major uptrend line.
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The West Texas Intermediate Crude Oil market has been very noisy on Thursday as we await inventory figures.
The West Texas Intermediate Crude Oil market fell during most of the session on Wednesday but did see a bit of recovery late in the day.
The West Texas Intermediate Crude Oil market initially rallied on Tuesday but gave back gains at the 50-day EMA again.
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The West Texas Intermediate Crude Oil market has found Monday to be rather quiet, which makes sense considering it was Juneteenth in the United States,
The West Texas Intermediate Crude Oil market had a rough trading session on Friday as most assets did.
The West Texas Intermediate Crude Oil market initially fell on Thursday as the market approached the crucial 50 Day EMA, and the $112 level.