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 did very little on Tuesday as we continue to hang about the $110 level.
The West Texas Intermediate Crude Oil market rallied a bit on Monday but turned around and fell to show signs of hesitation.
The West Texas Intermediate Crude Oil market initially pulled back a bit on Friday but then found buyers again to break above the $110 level.
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The West Texas Intermediate Crude Oil market initially fell during the trading session on Thursday to reach the crucial 50 Day EMA.
The West Texas Intermediate Crude Oil market pulled back on Wednesday as we continue to trade in a significant channel.
The West Texas Intermediate Crude Oil market rallied early on Tuesday as we continue to see upward momentum.
The West Texas Intermediate Crude Oil market initially pulled back on Monday but turned around to show signs of strength again.
The West Texas Intermediate Crude Oil market has rallied quite nicely during the trading session on Friday as we continue to bang around in a major symmetrical triangle.
The West Texas Intermediate Crude Oil market has been very volatile over the last couple of days, and at the beginning of Thursday, we did see some selling.
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The West Texas Intermediate Crude Oil market broke much higher on Wednesday as we are clear of the 50-day EMA.
The West Texas Intermediate Crude Oil market initially tried to rally on Tuesday but gave back gains as we started to see more negativity around the world.
The West Texas Intermediate Crude Oil market pulled back a bit on Monday as we continue to see a lot of volatility in the markets overall.
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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 initially pulled back on Friday but then turned around to show signs of strength yet again.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Thursday to break above the $110 level.
The West Texas Intermediate Crude Oil market has rallied significantly during the Wednesday session to break out of the triangle again.