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 has gapped higher to kick off the Thursday session before breaking above the $25 level.
It’s very likely that the market will continue to find plenty of reasons to sell as we continue to weigh the oversupply of crude oil against the lack of demand.
The WTI Crude Oil market initially rallied during the trading session to reach towards the $30 level,
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The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, reaching towards the $34 level.
The West Texas Intermediate Crude Oil market fell again during the trading session on Thursday, reaching down towards the $30 level.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday but gave back gains just above the $35 level.
The WTI Crude Oil market rallied slightly during the trading session on Tuesday, reaching towards the $35 level.
The natural gas markets initially tried to rally during the trading session on Thursday, but then has broken down yet again.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Thursday but gave back the gains to show signs of extreme exhaustion.
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The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Wednesday but failed to keep gains above the $47.50 level.
Natural gas markets have gone back and forth during the trading session on Wednesday but have struggled a bit above the $1.85 handle.
The West Texas Intermediate Crude Oil market gapped to kick off the trading session to the upside on Tuesday, and then took off even further
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The natural gas markets as rallied during the trading session on Tuesday, reaching as high as $1.85 before pulling back.
The West Texas Intermediate Crude Oil market broke down below the $45 level during the trading session on Friday, showing signs of weakness yet again.
The natural gas markets have broken down significantly during the trading session on Thursday, slicing through the $1.80 level.