Crude Oil Price Technical Analysis
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
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday, as we continue to go back and forth in trying to find some type of momentum
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday but found resistance above the 200 day EMA as we awaited the inventory figures.
The West Texas Intermediate Crude Oil market initially pulled back just a bit during the trading session on Tuesday but found a bit of buying later in the day
The West Texas Intermediate Crude Oil market continues to go sideways more than anything else as there is no clear narrative as to where we are going next.
The West Texas Intermediate Crude Oil market pulled back a bit to kick off the trading session on Friday, reaching down towards the 50 day EMA.
The West Texas Intermediate Crude Oil market fell rather hard during the trading session on Thursday, slicing through the 50 day EMA like it was not even there.
The West Texas Intermediate Crude Oil market has done very little during the trading session on Wednesday as we continue to wait to see whether or not there is going to be a stimulus in the United States.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Tuesday to break back above the 50 day EMA.
The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Monday to kick off the week, showing signs of weakness yet again.
The West Texas Intermediate Crude Oil market has pulled back a bit from the 200 day EMA during the trading session on Friday as we continue to focus on stimulus only.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Thursday due to the hope of stimulus coming down the road.
The West Texas Intermediate Crude Oil market has gone back and forth after initially gapping lower during the trading session on Wednesday.
The West Texas Intermediate Crude Oil market has broken above the 50 day EMA during the trading session on Tuesday, as we continue to see a well-defined range that the market wants to be involved in.
The West Texas Intermediate Crude Oil market rallied rather significantly during the trading session on Monday as traders came back to work.
The West Texas Intermediate Crude Oil market has fallen a bit during the trading session on Friday, reaching down towards the $37 level, only to bounce slightly towards the end of the day.