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 has gone back and forth during the trading session on Monday as we continue to dance around the $65 level.
The West Texas Intermediate Crude Oil market went back and forth during the trading session on Friday and rather lackluster action.
The West Texas Intermediate Crude Oil market has rallied significantly during the trading session, perhaps due to the idea of the stimulus bill finally being passed
The West Texas Intermediate Crude Oil market has dropped towards the $63.25 level, only to turn around and show signs of strength again.
The West Texas Intermediate Crude Oil market initially tried to rally above the $65 level on Tuesday but gave back the gains to break down towards the $64 level.
The West Texas Intermediate Crude Oil market initially shot higher during the trading session on Monday as it was reported that Houthi rebels had attacked a Saudi oil pipeline again.
The West Texas Intermediate Crude Oil market has rallied significantly yet again during the trading session on Friday to break out above the $65 level.
The West Texas Intermediate Crude Oil market has rallied rather significantly during the trading session on Thursday to touch the $65 level.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Wednesday to show signs of strength again.
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The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Tuesday but gave back the gains as we fell below the $60 level a couple of times during the session.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, but then fell to crash into the $60 level.
The West Texas Intermediate Crude Oil market pulled back a bit during the day on Friday to end the week in a flurry of profit-taking.
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Sign up to get the latest market updates and free signals directly to your inbox.February proved to be a terrific month for WTI Crude Oil speculators with bullish sentiment as targets were exceeded.
West Texas Intermediate Crude Oil markets went back and forth on Thursday to show a little bit of exhaustion as the market may have finally reached the limit of buying pressure.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Wednesday to break above the $63 level.