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 again on Friday to close out the week on the right foot.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Thursday to break above the $73 level.
The West Texas Intermediate Crude Oil market rallied a bit on Wednesday to show signs of life again.
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The West Texas Intermediate Crude Oil market had a very noisy trading session Tuesday as we reached below to test the 50-day EMA.
The West Texas Intermediate Crude Oil market has pulled back a bit during the course of the trading session on Monday to show signs of weakness.
The West Texas Intermediate Crude Oil market fell a bit on Friday, but as you can see, we have turned around to show signs of strength again.
The West Texas Intermediate Crude Oil market had initially fallen during the trading session on Thursday, in a bit of profit-taking.
The West Texas Intermediate Crude Oil market has rallied significantly to finally break above the short-term resistance.
The West Texas Intermediate Crude Oil market showed itself to be a bit flat during the session on Tuesday, despite the fact that we had recently broken above a significant trend line.
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The West Texas Intermediate Crude Oil market rallied a bit on Monday to kick off the week on the right foot.
The WTI Crude Oil markets continue to show signs of strength, but are also stymied by the downtrend line that I have marked on this chart.
The West Texas Intermediate Crude Oil market has pulled back from a downtrend line that has been so important over the last several months.
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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 a bit on Wednesday to test the downtrend line that I have been paying close attention to for quite some time now.
The West Texas Intermediate Crude Oil market gapped a little bit lower to kick off the trading session on Tuesday, as crude oil continues to struggle.
The West Texas Intermediate Crude Oil market has gapped lower to kick off the trading week.