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 has gone back and forth during the trading session on Monday, as we go back and forth at the 50 day EMA, an area that of course will attract a lot of attention.
The WTI Crude Oil market went back and forth during trading on Friday, as we are hovering around the 50 day EMA.
The WTI Crude Oil market exploded to the upside, breaking above the vital $55 level that I had talked about yesterday.
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The WTI Crude Oil market broke down a bit during the trading session initially on Wednesday but turned around of form a bit of a hammer.
The WTI Crude Oil market took off to the upside during the trading session on Tuesday, as the ECB suggested more quantitative easing is on the way.
The WTI Crude Oil market initially tried to rally during the day on Monday but gave back the gains as we continue to grind sideways overall.
The WTI Crude Oil market was somewhat sideways during the trading session on Friday, which is interesting considering just how much is going on in the world that could influence price.
The WTI Crude Oil market rallied significantly during the trading session on Thursday as we got wind that the attack on those couple of oil ships in the Gulf of Oman happened.
The WTI Crude Oil market broke down rather significantly during the trading session in what would have been one of the more volatile days we’ve seen recently.
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The WTI Crude Oil market shot higher initially to kick off the day on Tuesday, as we attempt to reach towards the $55 level, which of course is psychologically important.
The WTI Crude Oil market initially rallied during the open on Monday, reaching towards the $55 level.
The WTI Crude Oil market gap higher on Friday to kick off the session and continue to go even higher.
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The WTI Crude Oil market fell rather hard during the trading session on Thursday as we continue to get horrible inventory figures.
The WTI Crude Oil market has gone back and forth during trading on Tuesday as we continue to see a lot of choppiness.