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 market initially tried to rally during the New York trading session on Thursday, running into a significant amount of resistance.
The West Texas Intermediate crude oil market initially tried to rally during the New York trading session on Wednesday but found enough resistance above the downtrend line and the 50 day EMA to turn around and form a somewhat resistive candlestick.
The West Texas Intermediate crude oil market initially fell during the trading session on Tuesday, as we continued to see a lot of volatility when it comes to the energy markets.
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The West Texas Intermediate crude oil market has rallied quite nicely during the trading session on Monday, and even broke above the top of an inverted hammer from Friday.
The WTI Crude Oil market initially tried to rally during the trading session on Friday but then turned around to form a bit of a shooting star.
The West Texas Intermediate crude oil market had a rough session on Thursday, breaking down at the open to gap lower, and stay well below the $55 level.
The natural gas markets rallied rather significantly on Thursday, reaching towards the vital 50 day EMA.
The WTI Crude Oil market broke down significantly during the trading session on Wednesday as we continue to see a lack of demand globally.
Natural gas markets rallied a bit during the trading session on Monday, but then turned around to fall rather hard from the crucial $2.20 level.
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The WTI Crude Oil market has rallied a bit during the trading session on Tuesday to reach above the 50 day EMA.
Natural gas markets went back and forth on Tuesday, as we continue to see volatility.
The West Texas Intermediate Crude Oil contract had a choppy session on Monday as traders came back from the weekend.
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Sign up to get the latest market updates and free signals directly to your inbox.Natural gas markets continue to look very sluggish, and quite frankly probably will continue to offer selling opportunities every time it bounces.
The West Texas Intermediate crude oil market has gapped higher to kick off the trading session on Friday, pulled back a bit, and then shot out from the $52.50 level to slam into the $55 level.
Natural gas markets initially fell during the trading session on Friday but then turned around to bounce a bit during the trading session on Friday to show signs of support.