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 rallied during the trading session on Wednesday, reaching towards the top of the range and the $43.50 level before pulling back.
The West Texas Intermediate Crude Oil market has rallied significantly during the trading session on Tuesday, slicing through the 200-day EMA.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Monday, as Pfizer announced a coronavirus vaccine with over 90% efficacy.
The crude oil markets fell slightly during the trading session on Friday as we have seen the 50-day EMA hold.
The West Texas Intermediate Crude Oil market fell a bit during the trading session on Thursday as the inventory numbers were not necessarily overly bullish,
The West Texas Intermediate Crude Oil market has initially fallen during the trading session on Wednesday, only to turn around and rally again towards the 50-day EMA.
The West Texas Intermediate Crude Oil market has rallied during the trading session on Tuesday, as the US dollar was hit.
The WTI Crude Oil market initially broke down significantly during the trading session on Monday, only to rally yet again.
The oil markets fell hard during the trading session on Friday, as we have broken down below the $36.25 level in the West Texas Intermediate Crude Oil market.
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The West Texas Intermediate Crude Oil market has shown itself to be a bit threatened during the trading session on Thursday as we have broken below the $36.25 level during the day.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Wednesday, breaking down below the $37.50 level
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Tuesday, as we reached towards the 50 day EMA
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Sign up to get the latest market updates and free signals directly to your inbox.The West Texas Intermediate Crude Oil market has shown itself to be very soft to kick off the week, gapping slightly lower and then breaking away.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Friday, but then broke down a bit to slice through the 50 day EMA.
WTI Crude Oil has found a rather comfortable value range the past month.