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 yet again during the day on Tuesday but looks like it is heading towards a resistance barrier
The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Monday to kick off the week but found support at the same place
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, as we continue to see crude oil recover.
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The West Texas Intermediate Crude Oil market ended the month of April with a bang, reaching towards the $19 level at the close of open pit trading.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday and did keep quite a bit of the gains as we closed up 24%.
During yesterday's trading, crude oil prices fell sharply, then rebounded back and then stabilized after that, but the pressures remain.
The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Tuesday.
The West Texas Intermediate Crude Oil market did extraordinarily little during the trading session on Friday to in the week, after gaining quite drastically for several sessions.
The West Texas Intermediate Crude Oil market rallied during the trading session initially on Thursday but did reach towards the $20 level
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The West Texas Intermediate Crude Oil market gapped to the upside at the open on Wednesday, but then pulled back to try to fill that gap which of course it ended up doing so.
The West Texas Intermediate Crude Oil market has fallen apart during the trading session on Tuesday after a historic day on Monday with the May contract printing a negative level.
The West Texas Intermediate Crude Oil market has been very negative to say the least, with the May contract going negative.
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We rolled over to the June contract at the end of the session on Friday, so this is the chart that we are looking at.
The West Texas Intermediate Crude Oil market has rallied significantly during the trading session on Thursday, as traders are rolling over
The West Texas Intermediate Crude Oil market has plunged during the trading session on Wednesday, as the markets have broken through the $20 level.