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 broke down below the $45 level during the trading session on Friday, showing signs of weakness yet again.
The natural gas markets have broken down significantly during the trading session on Thursday, slicing through the $1.80 level.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Thursday but has bounced from the extreme lows.
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The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Wednesday, finally slicing through the $49 level and crushing all hope of support.
Natural gas markets did very little during the trading session on Wednesday as we sit just above the $1.80 level.
The natural gas markets have done very little during the trading session on Tuesday, as we continue to see volatility in other markets.
The West Texas Crude Intermediate Oil market has initially tried to rally during the trading session on Tuesday but then collapsed back into the $50 level again.
West Texas Intermediate Crude Oil markets fell initially during the trading session on Friday but found support near the $52.50 level to bounce a bit.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session, even though we had a very strong inventory figure coming out of the United States.
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Natural gas markets shot higher during the trading session on Thursday, reaching towards the 50 day EMA but has pulled back to show signs of exhaustion.
The West Texas Intermediate Crude Oil market has fallen rather significantly during the trading session on Tuesday, only to find buyers again.
Natural gas markets exploded to the upside during the trading session on Tuesday as traders came back to work.
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Natural gas markets have gapped to kick off the week on Monday, reaching well above the $1.90 level.
The West Texas Intermediate Crude Oil market initially pulled back a bit during the trading session on Monday, but then turned around to show signs of strength.
Natural gas markets have initially fallen during the trading session on Friday but have also found plenty of support at the $1.80 level underneath.