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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Natural gas markets are likely to find buyers at current levels, the $2.20 level, as it has been so supportive over the last several days.
Looking at the West Texas Intermediate market, you can see that we have rallied a bit during the trading session.
Natural gas markets initially rallied during the trading session on Thursday, as the inventory numbers came out.
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The WTI Crude Oil market rallied slightly during the trading session on Wednesday as we continue to see significant amounts of support underneath,
The natural gas markets have rallied significantly during the trading session on Wednesday to reach the $2.40 level again, only to turn around and form a bit of a shooting star.
The West Texas Intermediate Crude Oil market has fallen again during the trading session on Tuesday, but then turned around to show signs of support just below the $53 level.
The West Texas Intermediate Crude Oil market has broken down a bit during the trading session on Monday, as the $55 level has offered a significant amount of resistance.
Natural gas markets rallied after initially gapping higher on Monday from extreme lows.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, as word got out that the Iranian tanker had been hit by a couple of missiles in the Red Sea.
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The West Texas Crude Oil market is likely to find sellers above after a very positive session on Thursday.
Natural gas markets initially tried to rally during the trading session on Thursday as we had reached significant support, but at this point we have turned around to show signs of weakness yet again.
The West Texas Intermediate Crude Oil market initially shot higher during the trading session, then pulled back.
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West Texas Crude Oil markets have fallen a bit during the trading session on Tuesday, breaking below the $52.50 level.
The WTI Crude Oil market initially shot higher during the trading session on Monday, breaking above the top of the shooting star shaped candle stick from the Friday session