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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Crude oil markets remain elevated on Monday as concerns about the Russia/Ukraine situation continue to dominate the headlines.
The West Texas Intermediate Crude Oil market pulled back just a bit on Friday, but then turned around as the $90 level seems to be offering support yet again.
The West Texas Intermediate Crude Oil market has initially tried to rally on Thursday as we have seen a lot of volatility in various markets.
The West Texas Intermediate Crude Oil market dipped a bit on Wednesday but found plenty of buyers near the $88.50 level to turn around again over the last 24 hours.
The West Texas Intermediate Crude Oil market sold off quite drastically on Tuesday as we plunged towards the $88.50 level.
The West Texas Intermediate Crude Oil market gapped lower to kick off the session on Monday, and then simply went back and forth as we slid a little lower.
The West Texas Intermediate Crude Oil market rallied rather significantly on Friday to put the $90 level in the rearview mirror.
The West Texas Intermediate Crude Oil market pulled back a bit initially but then turned around to show signs of strength yet again.
The West Texas Intermediate Crude Oil market went back and forth on Wednesday as we are dancing around just below the $90 level.
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The West Texas Intermediate Crude Oil market went back and forth on Tuesday which should not be a huge surprise due to the fact that we have seen quite a bit of volatility over the last couple of days.
The West Texas Intermediate Crude Oil market initially fell on Monday but then turned around to capture a little bit of upward momentum.
The West Texas Intermediate Crude Oil market rallied for the second day in a row on Friday, but also saw selling pressure at the highs like we did for the second day in a row.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market initially tried to rally on Thursday but gave back quite a bit of the gains to in the day essentially unchanged.
The West Texas Intermediate Crude Oil market rallied significantly on Wednesday as we continue to see energy as one of the biggest outperformers globally.
The West Texas Intermediate Crude Oil market initially dipped on Tuesday but has found support yet again like we did on Monday.