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 fell slightly during the day as the $72.50 level offered a bit of resistance.
The WTI Crude Oil market continues to show signs of strength, making a fresh, new high again.
The WTI Crude Oil market went back and forth during trading on Friday, as we have gotten a bit overextended.
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The WTI Crude Oil market has been very volatile during trading on Thursday, initially breaking above the $72 level only to turn around and form a shooting star.
The WTI Crude Oil market has gone back and forth during the session on Wednesday, but eventually found buyers.
The WTI Crude Oil market had a volatile session during trading on Tuesday, initially trying to go higher but finding enough resistance at the $72 level to turn things around.
The WTI Crude Oil market has been very noisy during trading on Monday, initially dipping towards the $70 level only to turn around and rally again.
The WTI Crude Oil market fell significantly on Friday. The natural gas markets have rallied a bit during the trading session on Friday, reaching towards the $2.80 level.
The WTI Crude Oil market went back and forth during the trading session on Thursday, as we continue to see a lot of volatility when it comes to the crude oil markets.
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The WTI Crude Oil market rallied during the session on Wednesday, breaking clearly above the $70 level.
The WTI market was very volatile during the trading session on Tuesday, as the markets prepared for Donald Trump to leave the Iranian deal.
The WTI Crude Oil market was initially a bit positive during the day on Monday, but then broke down rather significantly to sliced through the $70 handle.
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The WTI Crude Oil market initially fell during trading on Thursday but found enough bearish pressure to turn things around and rallied rather significantly.
The WTI Crude Oil market initially fell during the day on Wednesday, as we got a higher-than-expected inventory build.