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 WTI Crude Oil market rallied initially during the trading session on Monday but as you can see gave back quite a bit of the gains and ended up forming a bit of a shooting star.
The WTI Crude Oil market initially fell hard during the trading session on Friday, reaching down to the bottom yet again.
Natural gas markets pushed higher to the trading session, reaching towards the 50 day EMA.
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Natural gas markets were very quiet and electronic trading during the holiday session on Thursday as Americans celebrated Independence Day.
The WTI Crude Oil market did very little during the trading session on Thursday as you would expect, as it was the Independence Day holiday in the United States.
The WTI Crude Oil market had a relatively flat trading session during the day on Wednesday, initially trying to rally but then giving back the gains.
Natural gas markets will be very thin during the trading session on Thursday, as we are going to see people celebrating the Independence Day holiday in the United States.
The WTI Crude Oil market broke down significantly during the trading session on Tuesday, slicing below the 50 day EMA.
Natural gas markets tried to rally significantly during the trading session on Tuesday, but then pulled back to find selling pressure yet again.
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Natural gas markets broke down significantly during the trading session on Monday again, after initially trying to rally.
Oil markets were a bit tricky during the trading session on Monday as we came back to work.
The WTI Crude Oil market fell hard later in the day, filling the gap that was marked on the daily chart and finding buyers near the 50 day EMA.
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Sign up to get the latest market updates and free signals directly to your inbox.It’s difficult to imagine that the crude oil markets will do much during the day on Friday, because we are heading into the G 20 summit.
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, reaching towards the crucial $60 level before pulling back.
The WTI Crude Oil market went back and forth during the trading session on Tuesday, showing signs of indecision.