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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Crude oil markets rallied a bit during the trading session on Tuesday but found the $60 level to be a bit too expensive and fell towards the 200 day EMA.
Natural gas markets have gapped lower to kick off the first true trading session of the week, as volume came back into play.
The West Texas Intermediate Crude Oil market initially rallied during the trading session on Monday but gave back the gains closer to the $60 level.
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Natural gas markets gapped lower to kick off the trading week, but it should also be noted that the Americans were away for Martin Luther King Jr. holiday,
Natural gas markets have broken down significantly during the trading session on Friday, peeking through the $2.00 level.
The West Texas Intermediate Crude Oil market did very little during the trading session on Friday as traders began to think about the three day weekend in the United States.
The Natural Gas markets formed a bit of a harami during the trading session on Thursday, as the natural Gas Storage figures in the United States were much more bullish
The West Texas Intermediate Crude Oil market had a somewhat choppy and volatile day, but the candlestick does look rather healthy.
Natural gas markets have pulled back a little bit during the trading session on Wednesday, as the market awaits the inventory figures coming out on Thursday.
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The West Texas Intermediate Crude Oil market has bounced a bit during the trading session on Wednesday, showing a positive reaction to the $57.50 level.
West Texas Intermediate Crude Oil has had a slightly positive session on Tuesday as we continue to hang around the 200 day EMA.
Natural gas markets initially tried to rally during the trading session on Tuesday, breaking above the $2.20 level.
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When I state that the West Texas Intermediate Crude Oil market is at “fair value”, what I mean by that statement is that we are directly in the middle of the overall trading range that the market has been in
Natural gas markets initially pulled back during the trading session on Friday, but then rallied to break above the $2.20 level.
The West Texas Intermediate Crude market broke lower initially during the trading session on Friday, as we awaited the jobs number.