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

WTI Crude Oil Continues to Bounce Around in Consolidation | 5/26/2015 8:12:10 AM

The WTI Crude oil markets initially fell during the course of the session on Monday, but as you can see we are still stuck just above the $58 level.

WTI Crude Oil Falls on Friday | 5/25/2015 8:12:38 AM

The WTI Crude Oil markets fell again on Friday, as the US dollar in general saw buying pressure. Because of this, I believe that we are presently “taking a break” from the incredible amount of effort it took to break out to the upside in the oil markets.

WTI Crude Oil – No Interest in Selling Now | 5/22/2015 7:56:34 AM

The WTI Crude Oil market had a very positive showing during the day on Thursday, breaking above the $60 level again.

WTI Crude Oil Testing $58 Region | 5/20/2015 7:16:31 AM

The WTI Crude Oil markets fell during the session on Tuesday, testing the $58 region. Because of this, looks like the markets can tend to simply grind away sideways overall, and although I certainly have an upward bias in this market, I’m not necessarily that pressed to risk any serious amount of money in this market.

WTI Crude Oil Buying Short-term Dips | 5/19/2015 6:55:38 AM

The WTI Crude Oil markets did very little during the session on Monday as traders came back from the weekend. It appears that the market is essentially settling at the $60 level, and as a result there isn’t much to do.

WTI Crude Oil Finds Support During Friday Trading | 5/18/2015 7:08:27 AM

The WTI Crude Oil market initially fell during the course of the day on Friday, but found enough support towards the end of the session to turn things back around and form a rather positive looking hammer.

WTI Crude Oil Buying Dips on the Short-term | 5/14/2015 7:03:52 AM

The WTI Crude Oil market fell during the session on Wednesday, in order to show just a little bit of resistance. However, I believe that we are sitting on top of a significant amount of support as we have recently broken out to the upside.

WTI Crude Oil Shows Serious Strength | 5/13/2015 7:05:49 AM

The WTI Crude Oil market rose during the session on Tuesday, clearing the $60 level easily. Because of this, I believe that this market is getting ready to break out to the upside and perhaps grinding out a sigh and $70 over the course of the next couple of weeks.

WTI Crude Oil Continues to Hover just Below $60 | 5/12/2015 7:12:07 AM

The WTI Crude Oil markets went sideways during the session on Monday as we continue to hover just below the $60 handle. This is a large, round, psychologically significant number, but we feel that it will eventually lose its luster.

WTI Crude Oil Analysis | 5/1/2015 6:40:31 AM

Oil markets have been absolutely brutalized lately, as it wasn’t until recently that we even saw any signs of hope for the buyers. The WTI market had fallen as low as $46 at one point, but now looks as if it has formed some type of major bottom.

WTI Crude Oil Struggles Yet Again - 11 November 2014 | 11/11/2014 9:11:00 AM

The WTI Crude Oil markets struggled yet again during the session on Monday, as we initially tried to break out to the upside and climb above the $80 handle.

WTI Crude Oil Still Going Sideways - 30 October 2014 | 10/30/2014 9:37:00 AM

The WTI Crude Oil markets did gain during the session on Wednesday, testing the $83 level for resistance. Needless to say, it did in fact find the $83 level as resistive, and formed a bit of a resistive looking candle.

WTI Crude Oil Finding Support at $80 - 28 October 2014 | 10/28/2014 7:41:00 AM

The WTI Crude Oil market has been very bearish for quite some time now. After all, you can see that the market fell from the $90 level all the way down to the $80 level in a flash.

WTI Crude Oil Continues to Grind Away - 21 October 2014 | 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 - 20 October 2014 | 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.