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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Natural gas markets have gone back and forth during trading on Friday as we continue to see a lot of volatility.
The West Texas Intermediate Crude Oil market initially fell during the trading session on Friday, reaching down towards the 50 day EMA at the $55.53 level.
The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Thursday, as we have recovered all of the losses from the very bearish Wednesday session.
Natural gas markets have been very noisy during the trading session on Thursday, as the inventory figures came out much more bullish than anticipated.
Natural gas markets initially started out the day rather bullish on Wednesday but have pulled back a bit as we are getting a bit extended.
The crude oil markets initially tried to rally during the trading session on Wednesday, as we are generally grinding higher.
The natural gas markets continue to see a lot of bullish pressure as the market had reached as high as $2.90, but at this point looks very likely that a pullback could be coming
The West Texas Intermediate Crude Oil market will probably have quite a bit of volatility during the trading session as the crude oil inventory figure comes out the United States.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Monday to kick off the week
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Natural gas markets gapped higher on Monday to break above the top of the overall consolidation area that they had been trading in
The WTI Crude Oil market rallied significantly during the trading session on Friday, especially later in the day, to break above the 50 day EMA.
Natural gas markets have initially fallen during the trading session on Friday but found enough support underneath the turn things around a start to break to the upside.
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Natural gas markets rallied again during the trading session on Wednesday, reaching towards the recent highs that we have seen, near the $2.73 level.
Natural gas markets have rallied significantly during the trading session on Tuesday, reaching towards the $2.68 level late in the day.