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 rallied again during the trading session on Thursday, as we continue to see the market grinding higher.
Natural gas markets initially fell during the trading session on Thursday, began a boost from a -110 million number instead of the anticipated -97.
Natural gas markets fell a bit during the trading session again during the day on Wednesday, but as you can see, we simply have no momentum to the upside.
The West Texas Intermediate Crude Oil market rallied again during the trading session on Wednesday, as we recovered from the gap lower.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Tuesday, as we are above the $60 level.
The West Texas Intermediate Crude market did rally a bit during the trading session on Monday to kick off the week but as you can see, we have a lot of noise just above that extends all the way to the $62.50 handle.
Natural gas markets have rallied nicely during the Monday session to kick off the week, reaching above the $2.35 level.
The West Texas Intermediate Crude Oil market has rallied significantly during the trading session on Friday, reaching above the $60 level before pulling back just a bit.
Natural gas markets fell initially during the trading session on Friday, reaching down towards the $2.25 level before bouncing significantly.
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The West Texas Intermediate Crude Oil market fell during trading on Wednesday, reaching down to the psychologically important $58 level.
Natural gas markets rallied initially during the trading session on Wednesday, reaching towards the previous uptrend line.
The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday, but then turned around to rally and slam into the $60 level.
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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 initially fell during Monday trading as we got reports from OPEC that they were cutting 500,000 barrels per day.
Natural gas markets gapped lowered to kick off this session on Monday as some whether reports are calling for warmer temperatures in the month of December.
The West Texas Intermediate crude Oil market initially went back and forth during the trading session and then shot towards the top of the overall consolidation.