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 West Texas Intermediate crude oil market pulled back a bit during the trading session on Tuesday, as we wait to see whether or not OPEC will continue production cuts.
Crude oil markets were slightly negative during the trading session on Monday as we came back to work, mainly because we are waiting for the announcement from OPEC.
The West Texas Intermediate crude oil market pulled back a bit during the trading session on Friday, but found buyers underneath to support the market.
Dumb luck, coincidence or actual impetus witnessed a predicted rise in the price of WTI Crude Oil the past three weeks.
Don't read too much into the markets falling due to the Thanksgiving holiday.
The West Texas Intermediate Crude Oil market rallied again during the trading session on Wednesday as traders started to focus on the holiday.
The West Texas Intermediate Crude Oil market has finally broken out of the range that we have been in for some time, and now that we have broken above the $43 level, it looks as if we could continue to go higher.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Monday as we returned to work.
The West Texas Intermediate Crude Oil market had initially rallied during the trading session on Friday, but we continue to see the $43 level above offer resistance.
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The West Texas Intermediate Crude Oil market has initially dipped during the trading session on Thursday but has turned around to form a slightly bullish candlestick as it is like a miniature hammer.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Wednesday, but continues to struggle with the idea of breaking out to the upside.
The West Texas Intermediate Crude Oil market pulled back a bit during the trading session on Tuesday, reaching down towards the 200-day EMA before bouncing significantly.
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Sign up to get the latest market updates and free signals directly to your inbox.The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Monday, but gave back the early gains to continue to show lack of momentum.
The West Texas Intermediate Crude Oil market fell slightly during the trading session on Friday, breaking well below the 200-day EMA.
The West Texas Intermediate Crude market initially tried to rally during the trading session on Thursday but gave back the gains during the session