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 traded in light volume during the Thanksgiving Day holiday, drifting a little bit lower.
The West Texas Intermediate Crude Oil market rallied initially during the trading session on Tuesday but gave back some of the gains to form a less than impressive candlestick.
Natural gas markets have broken down a bit during the trading session on Tuesday, slicing through significant support and finally showing a little bit of conviction
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West Texas Intermediate Crude Oil has pulled back quite a bit during the trading session on Monday but has also found a significant amount of support near the 200 day EMA.
The natural gas markets gapped higher to kick the Friday session off, but then pulled back a bit to the test the $2.60 level,
The West Texas Intermediate Crude Oil market has gone back and forth during the day on Friday, as we have a lot of noise out there and the market is likely to see a lot of noise
The West Texas Intermediate Crude Oil market has rallied rather significantly during trading on Thursday as reports are coming out that OPEC may in fact look to extend the production cuts that are currently in effect going forward.
Natural gas markets rallied during the trading session on Wednesday, breaking above the 200 day EMA during the session.
The West Texas Intermediate Crude Oil market rallied rather significantly after initially hitting the $55 level underneath.
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The WTI Crude Oil market fell rather hard during the trading session on Tuesday, reaching below the 50 day EMA as there was a general malaise about risk appetite during trading.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, but then broke back down to slice through the 200 day EMA again.
Natural gas markets fell a bit during the trading session on Monday to kick off the week, testing the 200 day EMA.
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Sign up to get the latest market updates and free signals directly to your inbox.The West Texas Intermediate Crude Oil market initially dipped on Friday but found enough buyers underneath yet again to turn around and rally.
Natural gas markets have been all over the place during the trading session on Friday, initially gapping lower by just a bit and then drifting down to test the $2.60 level.
Natural gas markets have gapped higher to kick off the trading session on Thursday as we start to see more colder temperatures hit the northeastern part of the United States