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 has rallied a bit during the trading session on Tuesday to break back above the 50 day EMA.
The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Monday to kick off the week, showing signs of weakness yet again.
The West Texas Intermediate Crude Oil market has pulled back a bit from the 200 day EMA during the trading session on Friday as we continue to focus on stimulus only.
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The West Texas Intermediate Crude Oil market has rallied again during the trading session on Thursday due to the hope of stimulus coming down the road.
The West Texas Intermediate Crude Oil market has gone back and forth after initially gapping lower during the trading session on Wednesday.
The West Texas Intermediate Crude Oil market has broken above the 50 day EMA during the trading session on Tuesday, as we continue to see a well-defined range that the market wants to be involved in.
The West Texas Intermediate Crude Oil market rallied rather significantly during the trading session on Monday as traders came back to work.
The West Texas Intermediate Crude Oil market has fallen a bit during the trading session on Friday, reaching down towards the $37 level, only to bounce slightly towards the end of the day.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Thursday, slamming into the $38 region.
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The West Texas Intermediate Crude market rallied a bit after initially falling on Wednesday, but at this point in time, we have established that the market has nowhere to be anytime soon.
Crude oil markets have broken down slightly during the trading session on Tuesday, slicing down towards the $39 level.
The West Texas Intermediate Crude Oil market continues to do very little as far as a range is concerned, as we have been dancing around the $40 level.
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WTI Crude Oil: Will Energy Demand Match Production Increases
The West Texas Intermediate Crude Oil market went back and forth during the trading session on Thursday again, putting people to sleep.