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 Crude Oil market has sold off rather drastically during the trading session on Tuesday, reaching down below the $21 level.
The West Texas Intermediate Crude Oil market initially gapped higher to kick off the trading session on Monday as rumor started to come out
West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Thursday, when it was reported that Saudi Arabia and Russia were discussing cuts
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West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Thursday, initially rallying as much as 9%
The West Texas Intermediate Crude market has been relatively choppy during the trading session on Wednesday
The West Texas Intermediate Crude Oil market has drifted a little bit lower during the trading session on Tuesday after initially trying to rally.
The West Texas Intermediate Crude Oil market has gone back and forth significantly during the trading session on Monday to open up the week, as we initially gapped lower.
The West Texas Intermediate Crude Oil market has rallied again to close out the week on Friday, but most of that rally is probably do more to short covering than anything else.
The West Texas Intermediate Crude Oil market initially tried to rally but then fell towards the $20.00 level.
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The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday to fill the gap from the Monday open.
The West Texas Intermediate Crude Oil market has broken through a major support level in the form of the psychologically important $20.00 level.
The West Texas Intermediate Crude Oil market fell during the trading session on Friday, but still sees plenty of buyers
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The West Texas Intermediate Crude market has pulled back just a bit during trading on Thursday, as we continue to see $25 offer significant resistance.
The West Texas Intermediate Crude Oil market initially fell during the trading session on Wednesday but turned around as inventory numbers were a bit better than anticipated.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday but found resistance near the $25 level to give back the gains.