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 initially tried to rally during the trading session on Monday, but then fell to crash into the $60 level.
The West Texas Intermediate Crude Oil market pulled back a bit during the day on Friday to end the week in a flurry of profit-taking.
February proved to be a terrific month for WTI Crude Oil speculators with bullish sentiment as targets were exceeded.
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West Texas Intermediate Crude Oil markets went back and forth on Thursday to show a little bit of exhaustion as the market may have finally reached the limit of buying pressure.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Wednesday to break above the $63 level.
The West Texas Intermediate Crude Oil market fluctuated significantly during the trading session on Tuesday as it looks like the market is a bit overdone.
The West Texas Intermediate Crude Oil market had a very bullish candlestick form for the Monday session as it gained 3.8%.
The West Texas Intermediate Crude Oil market has fallen again during the trading session on Friday as it appears that Texas energy companies are going to be coming back online.
The West Texas Intermediate Crude Oil market initially rallied during the trading session on Thursday only to turn around and sell off
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The crude oil markets initially dipped during the trading session on Wednesday to break down below the $60 level before turning around to show signs of strength.
The West Texas Intermediate Crude Oil market gapped higher to kick off the trading session on Tuesday, but started to show a lot of bullish pressure during the day.
The West Texas Intermediate Crude Oil market gapped higher during the trading session on Monday as the week started out very positively.
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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 initially pulled back during the trading session on Friday but turned around to take off to the upside yet again.
The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Thursday, as OPEC has delayed its timeline of recovery for 2021 during the session.
The West Texas Intermediate Crude Oil market fluctuated during the course of the trading session on Wednesday as we have tested the $59 level.