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 initially fell during trading on Monday as traders came back to work.
The WTI Crude Oil market initially tried to rally during the trading session on Friday but gave back most of the gains to form a bit of a shooting star.
The WTI Crude Oil market fell a bit during the trading session on Thursday, as the $65 level continues to be a bit too much for the markets to deal with.
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The WTI Crude Oil market had a slightly positive session as we awaited the Federal Reserve Meeting Minutes.
The WTI Crude Oil market struggle during the trading session to find a direction on Tuesday, as we are approaching the crucial $65 handle.
The WTI Crude Oil market had a very bullish move during the trading session on Monday, reaching towards the $64.55 level towards the end of the day. At this point, the $65 level is well within grasp, but I think this is an area that you need to be careful with.
The WTI Crude Oil market pulled back a bit initially during the trading session on Friday, but then shot higher after the jobs number came out. That being the case, it looks as if the $63 level is now giving way at the close of
The WTI Crude Oil market had a slightly negative trading session during the day on Thursday, as we may have gotten a bit ahead of ourselves.
The WTI Crude Oil market went back and forth during the trading session on Wednesday, as we reached towards the $62.50 level.
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The WTI Crude Oil market rallied again during the trading session on Tuesday, as we continue to see the break out take effect.
The WTI Crude Oil market broke higher during the trading session on Monday, clearing the lot of the resistance that we had seen.
The WTI Crude Oil market rallied a bit during the trading session on Friday, closing above the $60 level which is a good sign.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market has pulled back rather significantly during trading on Thursday, only to turn around and form a nice-looking hammer for the daily chart.
The WTI Crude Oil market went back and forth quite a bit during the trading session on Wednesday but found the area just above $60 to be resistance yet again,
The WTI Crude Oil market rallied a bit during the trading session on Tuesday reaching towards the $60 level.