Crude Oil Price Technical Analysis

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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

WTI Crude Oil Continues to Grind Away | 10/21/2014 6:30:00 AM

The WTI Crude Oil market continues to grind away as the Monday session offered a bit of support, but it is still within the realm of consolidation.

WTI Crude Oil Struggles at $84 | 10/20/2014 8:25:00 AM

The WTI Crude Oil markets have been ruthlessly sold off over the last couple of months. That in itself isn’t anything new or newsworthy, but the fact that the bounce could produce anything close to an extended gain shows just how much trouble there is in the oil market.

Crude Oil Downtrend too Strong | 10/6/2014 8:43:00 AM

The WTI Crude Oil markets fell during the session on Friday, crashing through the $90.00 level. The $90.00 level is an area that of course would attract quite a bit of support and buying, but that being the case the market does in fact look like it’s ready to go lower.

WTI Crude Oil Fails to Rally | 10/2/2014 5:23:00 AM

The WTI Crude Oil market initially rallied during the session on Wednesday, testing the $93.00 level. However, we found the marketplace to be a bit resistive, and as a result the market fell back down in order to form a shooting star.

Crude Oil Continues to Look Anemic | 10/1/2014 7:07:00 AM

The WTI Crude Oil markets fell hard during the course of the session on Tuesday, slamming into the $91.00 level. With that being the case, the market looks as if it could be continue to fall a little bit here, but there is so much support at the $90.00 level that it could be difficult to continue going lower.

WTI in a Downtrend. Sell, Don't Buy | 9/30/2014 7:24:00 AM

The WTI Crude Oil markets fell initially during the session on Monday, but found support just below the $93.00 level in order to turn things back around and go much higher.

Crude Oil Price | 9/18/2014 6:56:00 AM

The WTI Crude Oil market fell slightly during the session on Wednesday, pulling back from the $95.00 level, an area where you would expect to see a significant amount of resistance.

Crude Oil Price - September 17 | 9/16/2014 10:57:00 PM

The WTI Crude Oil markets rose fairly significantly during the session on Tuesday, breaking the top of the hammer from the Monday session, as well as the $93.00 level, an area that looks to be rather resistive.

Crude Oil Price- September 16 | 9/16/2014 7:14:00 AM

The West Texas Intermediate grade of crude oil had another negative session for most of the day on Monday, but found support just below the $91.00 level in order to bounce and form a nice-looking hammer.

Crude Oil Price- Sept. 12, 2014 | 9/12/2014 3:12:00 AM

The WTI Crude Oil markets initially fell during the course of the session on Thursday game, but as you can see below the $91.00 level we got quite a bit of buying pressure. In fact, we had enough buying pressure to turn things back around and form a nice-looking candle that is shaped basically like a hammer.

Crude Oil Price- Sept. 11, 2014 | 9/11/2014 4:38:00 AM

The WTI Crude Oil markets fell hard during the course of the day on Wednesday, as the market finally broke down below the $92.00 handle. Because of this, I believe that we are starting to see another leg lower in this market, and that we will eventually target the $90.00 handle.

Crude Oil Price- Sept. 5, 2014 | 9/5/2014 4:09:00 AM

The WTI Crude Oil markets fell during the session on Thursday, as the US dollar continued to improve its value. With the ECB cutting interest rates, the US dollar of course expanded in value, and as a result of the oil markets fell as it took less of those dollars to buy the commodity.

Crude Oil Price- Sept. 4, 2014 | 9/4/2014 3:51:00 AM

The WTI Crude Oil market rose during the course of the day on Wednesday, and even challenged $96.00 handle. It’s above there that we would see a significant amount of buying pressure reenter the market, and perhaps try this market as high as $98.50.

Crude Oil Price- Sept. 2, 2014 | 9/2/2014 4:27:00 AM

With the Americans and Canadians celebrate Labor Day, a massive part of the trading community would have been gone as far as this particular contract is concerned.

Crude Oil Price- August 28, 2014 | 8/27/2014 11:34:00 PM

The WTI Crude Oil market did very little during the session on Wednesday as we continue to hover around the $93.50 level. With that, it’s very difficult to get overly excited about trading this market right now, as the markets are simply far too tight and choppy to be safe at this point.