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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Natural gas markets initially rallied during the trading session on Tuesday but found enough resistance above the turn things back around near the $2.60 level.
The West Texas Intermediate Crude market initially gapped higher to kick off the week but then slammed through the 200 day EMA to show signs of weakness
Natural gas markets fell initially during trading on Monday to kick off the week but ended up finding a bit of support at the $2.50 level which is a large, round, psychologically significant figure.
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The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Friday, but as we have seen more than once over the last couple of days, the sellers came back in and pushed lower.
The natural gas markets went back and forth during the trading session on Friday, testing the significant $2.50 level.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Thursday but failed and gave up all of the gains.
Natural gas markets tanked a bit during the trading session on Thursday after a bearish inventory number came out.
Natural gas markets have gone back and forth during the last couple of days, as we have shown signs of filling the gap from the beginning of the week.
The West Texas Intermediate Crude Oil market dropped a bit during the trading session on Wednesday, as we continue to see a lot of noise.
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The West Texas Intermediate Crude Oil market has fallen significantly during the trading session on Tuesday as it was reported that the production may come back online within just a few weeks
Natural gas markets fell a bit during the trading session on Tuesday, trying to fill the gap yet again.
The West Texas Intermediate Crude oil market, as well as the Brent market, spiked after an attack in Saudi Arabia that has wiped out half of their refinery capacity.
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Sign up to get the latest market updates and free signals directly to your inbox.Natural gas markets gapped higher to kick off the week after the drone strike in Saudi Arabia, and that is perhaps in sympathy to the idea of the energy complex having less supplied in general.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Friday, dancing around the $55 level.
The natural gas markets initially pulled back a bit during the trading session on Friday but then turned around to reach towards the 200 day EMA yet again.