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 West Texas Intermediate Crude Oil market initially tried to rally on Friday but gave back the gains as the jobs numbers came out horrible.
The West Texas Intermediate Crude Oil market has broken higher during the course of the trading session on Thursday as we broke above the $70 level.
The West Texas Intermediate Crude Oil market initially pulled back just a bit on Wednesday to show signs of hesitation, before turning back around to form a significant hammer.
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The West Texas Intermediate Crude Oil market pulled back just a bit on Tuesday, but then showed signs of life again as the 50-day EMA continues to attract a certain amount of trading orders.
The West Texas Intermediate Crude Oil market was all over the place during the trading session on Monday as the market continues to focus on multiple fronts.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday to close out the highs of the week.
The West Texas Intermediate Crude Oil market has pulled back just a bit during the trading session on Thursday, as the US dollar picked up a bit of strength.
The West Texas Intermediate Crude Oil market initially pulled back on Wednesday but then turned around to show signs of strength yet again.
The West Texas Intermediate Crude Oil market powered higher on Tuesday as we continue to see a massive recovery in this market.
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The West Texas Intermediate Crude Oil market rallied significantly on Monday, reaching above the $65 level.
The West Texas Intermediate Crude Oil market fell again on Friday as we continue to see a lot of trouble when it comes to the idea of global growth.
The West Texas Intermediate Crude Oil market has fallen rather drastically on Thursday, as we gapped lower and then reached below the $65 level.
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The West Texas Intermediate Crude Oil market has initially rally during the trading session on Wednesday but has turned around to show signs of weakness again.
The West Texas Intermediate Crude Oil market has pulled back just a bit on Tuesday, as it looks like we are hell-bent on testing the $65 level.
The West Texas Intermediate Crude Oil market initially gapped lower on Monday, as we continue to see a lot of volatility in the energy space.