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 on Monday to pierce a significant uptrend line.
The West Texas Intermediate Crude Oil market went back and forth on Friday to form a bit of a hammer.
The West Texas Intermediate Crude Oil market initially rally during the trading session to retest the 50 Day EMA and of course the previous uptrend line.
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The West Texas Intermediate Crude Oil market broke down significantly during the trading session on Wednesday to slice through multiple areas of support.
The West Texas Intermediate Crude Oil market was all over the place on Tuesday as we shot higher, but gave back quite a bit of the gain.
The West Texas Intermediate Crude Oil market has rallied on Monday to kick off the week on the right foot.
The West Texas Intermediate Crude Oil market has fallen a bit during the course of the trading session, reaching the 50 Day EMA during the session.
The West Texas Intermediate Crude Oil market has fallen a bit during the trading session on Thursday to test a major support area.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Wednesday to break above the top of the hammer from Tuesday
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The West Texas Intermediate Crude Oil market went back and forth during a wild day on Wednesday as we continue to see volatility pick up.
The West Texas Intermediate Crude Oil market pulled back a bit on Monday to kick off the week on its back foot.
The West Texas Intermediate Crude Oil market pulled back a bit on Friday but found buyers to come in and pick the market up.
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Sign up to get the latest market updates and free signals directly to your inbox.The Oil market has rallied rather significantly over the last couple of weeks, but on Thursday gave back gains to form a less than impressive candlestick.
The West Texas Intermediate Crude Oil market has rallied a bit on Wednesday to break above the top of the candlestick from Tuesday.
The West Texas Intermediate Crude Oil market rallied a bit on Tuesday but pulled back to show signs of exhaustion.