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!
Most Recent
Without a doubt, one of the most interesting markets lately has been the WTI Crude Oil market, and the petroleum complex overall.
The WTI Crude Oil market initially tried to rally on Monday but rolled over slightly.Natural gas markets fell during the day as the $3.25 level has offered enough resistance to keep the market down.
The oil markets were very volatile during the Thursday session as we initially tried to rally, but gave back most of the gains and ended up forming a less than impressive candle. Natural gas markets were volatile as well, as we broke below the $3.25 level finally.
Top Forex Brokers
At the moment, the WTI Crude Oil and Brent Crude Oil markets are the ones that I get the most questions about. This is because of the recent breakout and of course the production cut agreement between the OPEC and non-OPEC countries. Get the 2017 forecast here.
The WTI Crude Oil market has been extraordinarily volatile over the last couple of weeks.
Get the USD/CHF Forex signal for November 28, 2016 here.
The WTI Crude Oil market initially tried to rally during the day on Monday but then turn right back around to slam into the $40 handle. Natural gas markets initially tried to rally during the day on Monday, but turned right back around to slam into the $2.75 region.
The WTI Oil market has been relatively volatile over the last month, as we have traded in a fairly tight range
The WTI Crude Oil market fell during the course of the day on Wednesday, but found enough support just below the $50 level to turn things back around and form a little less destructive candle that we had intentionally trying to do.
Bonuses & Promotions
The WTI Crude Oil market initially tried to rally during the course of the day on Wednesday but turn right back around to form a shooting star.
The WTI Crude Oil market went back and forth during the course of the day on Wednesday, using the $44 level house a magnet for price. Natural gas markets rose during the day on Wednesday again, as we continue to bounce around in a consolidative tone.
The WTI Crude Oil market went back and forth during the course of the session on Thursday, as we tested the $46 level. The natural gas markets fell significantly during the course of the session on Thursday, wiping out most of the gains from the Wednesday session.
Oil prices were collapsing earlier this year, but they’ve since rebounded nearly 60% from their February lows. Is the price going to keep rising?
The WTI Crude Oil market tried to rally during the course of the day on Thursday but found far too much in the way of resistance above at the $38 level. Natural gas markets fell a bit during the course of the session on Thursday, breaking below the $2 level.
The WTI Crude Oil market initially tried to break above the $48 level, but turned back around to a relatively negative candle.