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 broke down again during the day on Friday, slicing through the $55 level.
Global crude oil prices have fallen sharply, as fears of a US-China trade war and its possible impact on the global economy, have increased the likelihood of lower energy demand in the near term.
The WTI Crude Oil market went back and forth during low volume trading on Friday.
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The WTI Crude Oil market fell rather hard during trading on Thursday, slicing through the uptrend line that of course has been so obvious.
The WTI Crude Oil market fell significantly during the trading session on Wednesday, slicing through the 50 day EMA.
The WTI Crude Oil market went back and forth during trading on Tuesday, as we continue to see a lot of resistance near the $63.66 level.
The WTI Crude Oil market went back and forth during the trading session on Monday, as we continue to see a lot of resistance near the $63.66 level.
The WTI Crude Oil market rallied a bit during the trading session on Friday initially, but struggled at the $63.66 level.
The WTI Crude Oil market rallied during the trading session on Thursday but did give back some of the gains.
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The WTI Crude Oil market rallied a bit during the trading session on Wednesday, showing the trend line to be reliable and still in effect.
The WTI Crude Oil market rallied slightly during the trading session on Tuesday, showing signs of resiliency again.
The WTI Crude Oil market shot higher initially during trading on Monday, but then reversed drastically to form a rather negative candle stick.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market went back and forth during trading on Friday, as we continue to hug at the 50 day EMA in general.
The WTI Crude Oil market fell a bit during the trading session on Thursday as we got a bit of a “risk off” move to kick off the session, but we did get a bit of a reprieve, bouncing from the 50 day EMA.
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, as we got a better than anticipated drawl down of US inventories.