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 rallied during the trading session on Tuesday, even gapping ever so slightly higher.
The West Texas Intermediate Crude Oil market rallied just a bit during the trading session on Monday to kick off the week, as we continue to see the US dollar look a bit soft in general.
The West Texas Intermediate Crude Oil market has fallen slightly during the trading session on Friday, as the 200 day EMA continues to attract a lot of attention.
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The West Texas Intermediate Crude Oil market went back and forth during the trading session on Thursday as we continue to simply kill time in order to figure out what to do next.
The West Texas Intermediate Crude Oil market rose during the trading session on Tuesday but gave back quite a bit of the gains to turnaround and form a bit of a shooting star.
The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday before turning around to show signs of strength.
The West Texas Intermediate Crude Oil market pulled back just a bit during the trading session on Monday to kick off the week but found enough support near the $40 level to turn around and show signs of life again.
The West Texas Intermediate Crude Oil market dropped a bit during the trading session on Friday, as we continue to see a lot of noise.
The West Texas Intermediate Crude Oil market fell rather hard during the trading session on Thursday, perhaps in response to the US dollar spiking in value initially.
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The West Texas Intermediate Crude Oil market dropped a bit during the trading session on Tuesday, as the $41 level has offered a bit of resistance, and the 20 day EMA underneath continues to offer support.
West Texas Intermediate Crude Oil has enjoyed a solid stretch of trading and has stopped turning the hair of traders prematurely grey.
The West Texas Intermediate Crude Oil market continues to grind sideways during the trading session on Monday as it simply has nowhere to be.
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The West Texas Intermediate Crude Oil market has initially tried to rally during the day but fell a bit during the trading session on Friday, as the market seems to have a little bit of a magnet attached to the $41 level.
The West Texas Intermediate Crude Oil market has been grinding sideways for some time, as we have seen almost nothing in the way of momentum over the last several sessions,
The West Texas Intermediate Crude Oil markets have initially fallen during the trading session on Wednesday but found enough support to turn things around and show signs of strength.