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
West Texas Intermediate crude oil rebounds above $60 after Trump pauses global tariffs, though recession fears and China tensions keep pressure on.
Crude oil prices are attempting to stabilize around the key $60 level after a sharp decline, but oversupply and trade fears continue to weigh on sentiment.
Crude oil tested the key $60 level on Monday as traders assess demand outlook and OPEC production increases amid global tariff concerns.
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Crude oil broke below the critical $65 support on Friday as oversupply fears and recession risk dragged WTI toward a bearish breakdown.
WTI crude oil tumbled over 7% on Thursday as tariffs reignited global demand fears, with traders closely watching the critical $65 support level.
Crude oil is pushing toward a breakout as traders balance tariff risks with seasonal demand, watching $72.50 resistance for a move toward $75 and $80 this summer.
Crude oil retreats from the 200-day EMA as traders await U.S. tariff announcements, with $70 support and $78.50 resistance defining near-term direction.
WTI crude oil is expected to trend higher in April, supported by seasonal demand and strong economic data, with key resistance at $72.50 and $78.50.
Crude oil surged toward $72.50 following Trump’s tariff threat on Russia, with short-term pullbacks seen as value opportunities amid a bullish long-term outlook.
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WTI crude oil rebounded from key support on Thursday, with buyers stepping in near the 50-day EMA amid seasonal demand and renewed growth optimism.
Crude oil rallied strongly on Wednesday, breaking above key technical levels as support at $67 held firm and seasonal demand boosted bullish momentum.
Crude oil continues to form a basing pattern above long-term support between $65 and $67, with signs of shallower pullbacks suggesting increasing bullish pressure.
Crude oil remains in consolidation, finding support near $65, with traders eyeing a breakout above $68.50 or a potential selloff below key support.
Crude oil remains range-bound as resistance at $68 holds firm. With economic concerns weighing on momentum, will oil break out or stay in consolidation?
Crude oil continues to trade within its established range, with $67 acting as strong support and $78.50 as resistance, while demand concerns shape market sentiment.