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 continues to see a lot of a sideways grind, as the market has been noisy to say the least.
The West Texas Intermediate Crude Oil market has gone back and forth over the course of the trading session on Monday, as we continue to hang around the $85 level.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Friday,
The West Texas Intermediate Crude Oil market initially rallied on Thursday but has given back gains to form a less than attractive candlestick.
The West Texas Intermediate Crude Oil market has fallen rather significantly during the course of the trading session on Tuesday
The Crude Oil market has tried to rally a bit during the session on Monday, but gave back gain as it looks like we are threatening the $85 level.
The West Texas Intermediate Crude Oil market has fallen hard during the Friday session, as we continue to grind back and forth.
The West Texas Intermediate Crude Oil market has initially fallen during the trading session on Thursday, but has found support just above the $85 level, which of course has a certain amount of psychology attached to it.
The West Texas Intermediate Crude Oil market has pulled back for the third day in a row to pierce the $87 level, only to find a little bit of support.
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The West Texas Intermediate Crude Oil market rallied significantly during the day on Friday, breaking above the $92 level and touching the 200-Day EMA.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday, as OPEC has sliced production by 2 million barrels per day.
OPEC is getting ready to announce a 2 million barrel per day production cut, which would obviously bring down supply, and therefore should boost pricing.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market has fallen during the trading session on Friday, to lose almost 2.5%.
The West Texas Intermediate Crude Oil market has bounced a bit during the session on Tuesday as we continue to see a lot of volatility in this market.
The West Texas Intermediate Crude Oil market has fallen rather hard during the session again on Monday to show signs of weakness.