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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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.
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.
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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.
The West Texas Intermediate Crude Oil market has broken above the 200 day EMA during the trading session on Tuesday, as it looks like we are ready to break through the $42 level.
The West Texas Intermediate Crude Oil market initially dropped during the trading session on Monday to kick off the week but has found plenty of support near the $40 level yet again.
The West Texas Intermediate Crude Oil market initially pulled back a bit during the trading session on Friday but turned around to show signs of life again near the $40 level.
The West Texas Intermediate Crude Oil market continues to sit still and put traders to sleep.
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The West Texas Intermediate Crude Oil market has rallied rather significantly during the trading session, crashing into the 200 day EMA.
The West Texas Intermediate Crude Oil market initially gapped a bit lower, and then drove down during the Globex session.
The West Texas Intermediate Crude Oil market had a choppy session again on Monday as traders came back to work.
The West Texas Intermediate Crude Oil market has initially pulled back on Friday to show signs of weakness but turned right back around to form a hammer.
The West Texas Intermediate Crude Oil market broke down a bit during the trading session on Thursday, which is good news considering how we had been struggling
The West Texas Intermediate Crude Oil market has rallied a bit again during the trading session on Wednesday as we continue to see a lot of resistance just above.