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 WTI Crude Oil market fell a bit during the trading session on Friday, as we continue to grind back and forth in a relatively tight consolidating rectangle.
The WTI Crude Oil market rallied slightly during the trading session on Thursday, testing the $70 level.
The WTI Crude Oil market initially dipped a bit during the day on Wednesday but then rallied towards the $70 level.
The WTI Crude Oil market has rallied a bit during the trading session on Tuesday but continues to find trouble just above.
The WTI Crude Oil market rallied to fill the gap from Friday during the Monday session, but then turned around to form a shooting star.
The WTI Crude Oil market gapped lower to start the day on Friday, but then rallied.
The WTI Crude Oil market had a very volatile session on Thursday, reaching towards the $70 level, an area that has seen a lot of sellers jump in.
The WTI Crude Oil market had a slightly positive session on Wednesday, getting roughly 1% as I record this.
The WTI Crude Oil market fell during trading hours on Tuesday but found enough support underneath the $68 level to turn around of form a hammer.
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The WTI Crude Oil market fell apart during trading on Monday, losing over 3% and breaking cleanly below the 50 EMA.
The WTI Crude Oil market rallied on Friday, gaining 0.5% by the time the Americans were ready to call it a day.
The WTI Crude Oil market fell again during the trading session on Thursday, losing 1.5% by the time I record this video.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market has fallen drastically during the trading session on Wednesday, losing 4.5% as I record this.
The WTI Crude Oil market initially rallied during the day on Tuesday but continues to find plenty of selling orders at the $75 level.
The WTI Crude Oil market fell a bit during the trading session on Monday but turned around to form a slightly supportive candle.