Crude Oil Price Technical Analysis

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!

Crude Oil Price Technical Analysis

WTI Crude Oil Forecast: Rallies Again to Close out Week | 4/6/2020 7:44:09 AM

The West Texas Intermediate Crude Oil market has rallied again to close out the week on Friday, but most of that rally is probably do more to short covering than anything else.

WTI Crude Oil Forecast: Finding Fresh Lows - 2 April 2020 | 4/2/2020 7:36:24 AM

The West Texas Intermediate Crude Oil market initially tried to rally but then fell towards the $20.00 level.

WTI Crude Oil Forecast: Continues to Build Potential Floor - 1 April 2020 | 4/1/2020 7:47:19 AM

The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday to fill the gap from the Monday open.

WTI Crude Oil Forecast: Breaks Major Level - 31 March 2020 | 3/31/2020 7:17:46 AM

The West Texas Intermediate Crude Oil market has broken through a major support level in the form of the psychologically important $20.00 level.

WTI Crude Oil Forecast: Continue Testing Major Support - 30 March 2020 | 3/30/2020 7:02:25 AM

The West Texas Intermediate Crude Oil market fell during the trading session on Friday, but still sees plenty of buyers

WTI Crude Oil Forecast: Continuing to Consolidate - 27 March 2020 | 3/27/2020 7:57:39 AM

The West Texas Intermediate Crude market has pulled back just a bit during trading on Thursday, as we continue to see $25 offer significant resistance.

WTI Crude Oil Forecast: Showing Signs of Slight Promise - 26 March 2020 | 3/26/2020 9:02:27 AM

The West Texas Intermediate Crude Oil market initially fell during the trading session on Wednesday but turned around as inventory numbers were a bit better than anticipated.

WTI Crude Oil Forecast: Continuing Tentative Range - 25 March 2020 | 3/25/2020 8:08:31 AM

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday but found resistance near the $25 level to give back the gains.

WTI Crude Oil Forecast: Trying to Bounce - 24 March 2020 | 3/24/2020 7:42:00 AM

The West Texas Intermediate Crude Oil market initially fell during the trading session on Monday to kick off the week, as we continue to see a serious lack of demand

WTI Crude Oil Forecast: Gives Up Gains and Shows Weakness - 23 March 2020 | 3/23/2020 9:44:39 AM

The West Texas Intermediate Crude Oil market initially tried to rally during the day on Friday, reaching towards the $27.50 level before giving back gains

WTI Crude Oil Forecast: Market is Oversold - 20 March 2020 | 3/20/2020 9:49:48 AM

The West Texas Intermediate Crude Oil market has gapped higher to kick off the Thursday session before breaking above the $25 level.

WTI Crude Oil Forecast: Reaches Major Milestone - 19 March 2020 | 3/19/2020 10:05:40 AM

It’s very likely that the market will continue to find plenty of reasons to sell as we continue to weigh the oversupply of crude oil against the lack of demand.

WTI Crude Oil Forecast: Continues to Look Soft - 18 March 2020 | 3/18/2020 8:27:44 AM

The WTI Crude Oil market initially rallied during the trading session to reach towards the $30 level,

WTI Crude Oil Forecast: Likely to Offer Selling Opportunities Going Forward - 16 March 2020 | 3/16/2020 9:17:01 AM

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, reaching towards the $34 level.

WTI Crude Oil Forecast: Looking for Relief Rally - 13 March 2020 | 3/13/2020 10:33:20 AM

The West Texas Intermediate Crude Oil market fell again during the trading session on Thursday, reaching down towards the $30 level.

Crude Oil Price Technical Analysis

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Crude Oil Price Technical Analysis