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 rallied initially on Monday but gave back the gains as we continue to languish aside this bullish flag.
The West Texas Intermediate Crude Oil market rallied a bit on Friday to recover quite nicely heading into the weekend.
The West Texas Intermediate Crude Oil market initially shot higher during the trading session, after gapping lower.
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The crude oil inventory number showed a bigger-than-anticipated build, but at the end of the day, the crude oil market is still very much in an uptrend.
The West Texas Intermediate Crude Oil market went back and forth as the Tuesday session was more of the same noise.
The West Texas Intermediate Crude Oil market rallied a bit on Monday, trying to take out the $85 level, an area that would attract a certain amount of psychological attention.
The West Texas Intermediate Crude Oil market initially fell on Friday but turned around to show signs of strength again.
The West Texas Intermediate Crude Oil market has fallen rather hard, but as you can see, we have rallied quite drastically to recapture the $82.50 region.
The West Texas Intermediate Crude Oil market showed itself to be somewhat resistant to break above the $85 level, but it is probably only a matter of time before we clear that psychologically important figure.
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The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Tuesday, only to find buyers underneath and push to the upside.
The West Texas Intermediate Crude Oil market has initially rally during the trading session on Monday, reaching towards the crucial $85 level.
The West Texas Intermediate Crude Oil market pulled back ever so slightly on Friday, only to turn around and show signs of extreme strength yet again.
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The West Texas Intermediate Crude Oil market has pulled back quite a bit after an extended run over the last couple of weeks.
The West Texas Intermediate Crude Oil market fell significantly to kick off Wednesday, as traders were looking to work off some of the massive gains.
The West Texas Intermediate Crude Oil market rallied on Tuesday, but we continue to see a little bit of resistance near the $82.50 level.