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 a bit on Monday, but as you can see, we have pulled back enough to form shooting star.
The West Texas Intermediate Crude Oil market rallied again on Friday to reach above the $82 level.
The West Texas Intermediate Crude Oil market has shown itself to be positive again as we have broken above the $81.40 level.
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The West Texas Intermediate Crude Oil market rallied a bit on Wednesday after initially pulling back.
The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level.
The West Texas Intermediate Crude Oil market rallied again during the day on Monday, smashing through the $80 level.
The West Texas Intermediate Crude Oil market gapped higher on Friday, and then shot towards the $80 in order to test a large, round, psychologically significant barrier.
The West Texas Intermediate Crude Oil market has fallen rather significantly during the trading session on Thursday to reach towards the $75 level.
The West Texas Intermediate Crude Oil market initially tried to rally on Wednesday but gave back gains near the $80 level.
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The West Texas Intermediate Crude Oil market rallied again on Tuesday to go looking towards the $80 level.
The West Texas Intermediate Crude Oil market rallied significantly on Monday to break above significant resistance.
WTI Crude Oil is trading within sight of long-term highs as technical and fundamental sentiments have created a dynamic environment for the commodity.
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The West Texas Intermediate Crude Oil market initially pulled back on Friday but found support just below the $75 level to turn things back around.
The West Texas Intermediate Crude Oil market has initially pulled back on Thursday, but then turned around quite drastically to threaten the highs again.
The West Texas Intermediate Crude Oil market initially dipped a bit on Wednesday but then turned around to rip into the $75 level.