Crude Oil Price Technical Analysis

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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Crude Oil Price Technical Analysis

Crude Oil Price- July 30, 2014 | 7/30/2014 7:33:00 AM

The WTI Crude Oil markets initially fell during the day on Tuesday, but as you can see found enough support to bounce and form a bit of a hammer. With that hammer, it appears that we are going to go higher again.

Crude Oil Price- July 28, 2014 | 7/27/2014 8:58:00 PM

The WTI Crude Oil markets fell initially during the session on Friday, but found in support of the $101 level to turn things back around.

Crude Oil Price- July 25, 2014 | 7/25/2014 6:35:00 AM

The WTI Crude Oil markets fell during the course of the day on Thursday, as we continue to consolidate right around the $102 level.

Crude Oil Price- July 24, 2014 | 7/24/2014 7:41:00 AM

The WTI Crude Oil markets initially gapped lower at the open on Wednesday, but as you can see found support at the $102 level in order to turn things back around and form a massively bullish candle.

Crude Oil Price- July 23, 2014 | 7/23/2014 8:30:00 AM

The WTI Crude Oil markets fell during the session on Tuesday, rather significantly to test the $102.00 handle.

Crude Oil Price- July 22, 2014 | 7/22/2014 8:16:00 AM

The WTI Crude Oil markets rose during the course of the session on Monday, testing the $104.60 level. We closed at the very top of the range, which tells me that this market is still very bullish, and I believe that this market will make a serious attempt to break above the $105 level.

Crude Oil Price- July 21, 2014 | 7/21/2014 8:09:00 AM

The WTI Crude Oil market initially gapped higher on Friday, but as you can see ended up losing momentum during the day. That being the case, we broke down below the $103.00 level, and then bounced slightly.

Crude Oil Price- July 16, 2014 | 7/16/2014 6:08:00 AM

The WTI Crude Oil markets fell during the bulk of the session on Tuesday, and even managed to touch the $99 handle, an area that is without a doubt a significant support area.

Crude Oil Price- July 15, 2014 | 7/15/2014 7:29:00 AM

The WTI Crude Oil markets went back and forth during the course of the session on Monday, essentially hanging about the $101.00 handle.

Crude Oil Price- July 14, 2014 | 7/14/2014 7:15:00 AM

The WTI Crude Oil markets had a horrible session on Friday, as we crashed below the $101.00 level.

Crude Oil Price- July 11, 2014 | 7/11/2014 6:34:00 AM

The WTI Crude Oil market initially fell during the session on Thursday, breaking below the $102.00 level initially.

Crude Oil Price- July 10, 2014 | 7/10/2014 6:23:00 AM

The WTI Crude Oil markets fell hard during the session on Wednesday, crashing through the $103 level. The market is well supported just below the $102.00 level though, so there is the possibility that buyers will step in and start buying in this general vicinity.

Crude Oil Price- July 9, 2014 | 7/9/2014 6:50:00 AM

The WTI Crude Oil market went back and forth during the session on Tuesday, testing the $103 level. Because of this, it appears that the market may continue to drift a little bit lower, but most certainly find some type of support below.

Crude Oil Price- July 8, 2014 | 7/8/2014 9:02:00 AM

The WTI Crude Oil markets fell during the course of the session on Monday, testing the $103 region. This area should be rather supportive though, as the market has been very bullish for some time.

Crude Oil Price- July 4, 2014 | 7/4/2014 7:31:00 AM

The WTI Crude Oil markets gapped to the downside during the session on Thursday, but found enough support at the $104 level to cause the market to form a little bit of a neutral candle.