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 crude oil markets have shown significant upward momentum recently, a trend that continued into Friday's trading session.
On Thursday, the WTI crude oil market demonstrated resilience yet again, bouncing back amidst ongoing volatility.
The Crude Oil market experienced slight gains in Wednesday's trading session.
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The trading session for crude oil on Tuesday displayed some minor fluctuations, but it continues to seek out a basing pattern.
The West Texas Intermediate (WTI) crude oil market displayed some early choppiness on Monday.
The crude oil markets experienced a decline on Friday.
Crude oil markets commenced the Thursday session with a positive trajectory, as they continue to find support near the 50-Day Exponential Moving Average.
Crude oil markets show potential for a breakout, favoring a strategy of buying on dips.
Crude oil markets experienced a modest retracement during Tuesday's session.
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It looks to me like the crude oil market is starting to really take off and at this point you have to look at it through the prism of a short-term move to the 200-day EMA.
In recent trading sessions, the crude oil market has demonstrated a resurgence, particularly during the early hours of Wednesday.
Crude oil initially fell during the session on Tuesday and does look a bit threatened at this point in time.
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Crude oil markets dipped slightly during Monday’s trading session, then it re-addressed to the upside once again.
The crude oil markets continue to exhibit a consolidation pattern, reflecting a quest for clear direction.
The crude oil market has been somewhat choppy during the trading session here on Thursday, as we continue to grind back and forth.