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 WTI Crude Oil market has acted a bit sluggish on Thursday, but that is not a huge surprise considering just how parabolic we have been as of late.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Tuesday to break above the $81 level.
The West Texas Intermediate Crude Oil market has pulled back slightly on Monday, as we continue to see a lot of hesitation just above at the $80 level.
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The West Texas Intermediate Crude Oil market rallied initially on Friday as one would expect, due to the significant momentum that we have seen to the upside.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Thursday, as we have broken above the $79 level.
The West Texas Intermediate Crude Oil market initially pulled back on Wednesday, but then turned around to rally significantly and take out the $70 level.
The West Texas Intermediate Crude Oil market rallied a bit on Tuesday to show signs of life and break through a very short-term resistance barrier.
The West Texas Intermediate Crude Oil market initially plunged on Monday but found buyers at the 50-day EMA.
The West Texas Intermediate Crude Oil market fell a bit on Friday as traders started focus on New Year’s Eve and all of the weekend’s festivities.
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The West Texas Intermediate Crude Oil market went gone back and forth on Wednesday, as it looks like traders are trying to figure out how to end the year.
The West Texas Intermediate Crude Oil market rose on Tuesday, but then gave back the gains rather quickly.
The West Texas Intermediate Crude Oil market rallied significantly on Monday to break above the crucial 50 day EMA and the $75 level.
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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 rallied on Friday to capture the 50-day EMA.
The West Texas Intermediate Crude Oil market has initially dipped a bit during the day on Thursday, only to turn around and show signs of life again.
The West Texas Intermediate Crude Oil market rallied significantly on Wednesday to reach towards the $72.25 level.