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 continues to find buyers on dips, with the $35 level offering a significant amount of support.
The West Texas Intermediate Crude Oil market has broken down a bit during the trading session on Friday, reaching down towards the $35 level.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Thursday, as we have seen a lot of selling pressure across the risk spectrum
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The crude oil markets initially dipped slightly during the trading session on Wednesday, reaching lows of the previous session before turning around and showing life again.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Tuesday, as we are waiting to see whether or not we will continue to go higher, perhaps reaching towards the top of the gap.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Thursday but gave back the gains to form a negative candlestick.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Friday again as the job numbers came out stronger than anticipated.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday as we continue to see a major “risk on rally” in everything.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Wednesday, as we await some type of decision by OPEC
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The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Tuesday, finally entering the gap and thereby looking highly likely to fill that gap over time.
The West Texas Intermediate Crude Oil market has done nothing during the day on Monday, as we are simply sitting around and waiting to see whether or not we can break out to the upside.
The WTI Crude Oil market has rallied after initially breaking down during the session on Friday.
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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 has initially fallen during the trading session, as there was a lot of concern when it comes to the oversupply and the surprise build with inventory figures.
WTI Crude Oil is likely to remain under pressure in June, capped by $34.
The West Texas Intermediate Crude market has pulled back just a bit from the gap above, as word got out that there were people in Russia suggesting that production cuts should be rolled back in late June.