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 higher during the trading session on Friday, slicing through the 50 day EMA which of course is a very bullish sign and could have Algo traders jump in.
The WTI Crude Oil markets spent most of the day falling on Thursday after initially opening somewhat flat.
The WTI Crude Oil market went back and forth during trading on Wednesday, as we continue to grind sideways, perhaps in a bid to affirm the break of the downtrend line that we have seen recently.
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The WTI Crude Oil market rallied a bit during the trading session on Tuesday, as the $50 level continues to attract a lot of interest.
The WTI Crude Oil market tried to rally to kick off the session on Monday, but then turned around to show signs of exhaustion as we felt towards the $50 handle.
The WTI Crude Oil market has been very noisy during the Friday trading session, touching the 50 day EMA.
The WTI Crude Oil market pulled back a little bit during the trading session on Thursday, turning around to show signs of support.
The WTI Crude Oil market exploded to the upside during the trading session on Wednesday, leaving the $50 level behind it.
The WTI Crude Oil market rallied significantly during the trading session on Tuesday, slamming into the $50 level.
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The WTI Crude Oil market initially tried to rally during the day on Monday, but you can see that we have ran into a lot of resistance at the downtrend line, something that does in fact suggest that we are ready to roll over again.
The WTI Crude Oil market has rallied significantly during trading on Friday after a stronger than anticipated jobs number out of the United States.
The WTI Crude Oil market initially pulled back a bit during the trading session on Thursday but did show some signs of life.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market rallied rather significantly but gave back a lot of the gains late in the day.
The WTI Crude Oil market rallied a bit during the trading session on Friday, but the New Year’s Eve session of course would have had very little in the way of liquidity.
The WTI Crude Oil markets gapped higher to kick off the session on Friday, then chopped around of form a relatively neutral candlestick.