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 WTI Crude Oil market fell rather hard during the trading session on Tuesday, reaching below the 50 day EMA as there was a general malaise about risk appetite during trading.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Monday, but then broke back down to slice through the 200 day EMA again.
Natural gas markets fell a bit during the trading session on Monday to kick off the week, testing the 200 day EMA.
The West Texas Intermediate Crude Oil market initially dipped on Friday but found enough buyers underneath yet again to turn around and rally.
Natural gas markets have been all over the place during the trading session on Friday, initially gapping lower by just a bit and then drifting down to test the $2.60 level.
Natural gas markets have gapped higher to kick off the trading session on Thursday as we start to see more colder temperatures hit the northeastern part of the United States
The West Texas Intermediate Crude Oil market showed signs of life during the trading session on Thursday, but as the inventory number came out much more bearish than anticipated
The West Texas Intermediate Crude Oil markets have continued to find buyers on short-term dips, as the market participants look for value.
The natural gas markets initially tried to rally during the trading session on Wednesday but have given back the gains to reach down towards the crucial 200 day EMA as a huge oversupply of natural gas continues to be a major issue.
The West Texas Intermediate Crude Oil market continues to be very back and forth, as we are dancing around the 200 day EMA. T
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.