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 pulled back initially during trading on Monday but found enough support underneath at the $72.50 level.
The WTI Crude Oil market rallied again on Friday, reaching towards the $74.25 level.
The WTI Crude Oil market rallied a bit during the session again on Thursday, reaching towards the $74 level.
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The WTI Crude Oil market rallied a bit during the day again on Wednesday, reaching towards the highs again.
The WTI Crude Oil market gained over 3% during the trading session on Tuesday, breaking the vinyl $70 level.
The WTI Crude Oil market has pulled back a bit during the day on Monday, testing the $68 level.
The WTI Crude Oil market shot straight up in the air during the trading session on Friday after the OPEC announcement.
The WTI Crude Oil market has been very noisy during the trading session on Thursday, as we continue to see the uptrend line offer support.
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, gaining 1.6% as I record this.
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The WTI Crude Oil markets have been noisy during the trading session again on Tuesday, as we have tried to wipe out the gains from the Monday session.
The WTI Crude Oil market initially dropped at the open on Monday but turned around to shoot straight up in the air.
The WTI Crude Oil market fell apart during the day on Friday, losing over 4% in closing that the absolute lows.
The WTI Crude Oil market rallied slightly during the trading session on Thursday, gaining 0.5% for the day.
The WTI Crude Oil market initially pulled back a bit during the day on Tuesday but rallied to break above the top of the shooting star from the previous session.
The WTI Crude Oil market initially tried to rally during the day on Tuesday but gave back much of the gains.