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 has fallen a bit during the trading session on Friday, reaching down towards the $37 level, only to bounce slightly towards the end of the day.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Thursday, slamming into the $38 region.
The West Texas Intermediate Crude market rallied a bit after initially falling on Wednesday, but at this point in time, we have established that the market has nowhere to be anytime soon.
Crude oil markets have broken down slightly during the trading session on Tuesday, slicing down towards the $39 level.
The West Texas Intermediate Crude Oil market continues to do very little as far as a range is concerned, as we have been dancing around the $40 level.
The West Texas Intermediate Crude Oil market continues to do absolutely nothing during the trading session other than go back and forth
WTI Crude Oil: Will Energy Demand Match Production Increases
The West Texas Intermediate Crude Oil market went back and forth during the trading session on Thursday again, putting people to sleep.
The West Texas Intermediate Crude Oil market continues to dance around the $40 level, as the market has nowhere to be.
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The West Texas Intermediate Crude market did very little during the day on Tuesday, as we stabilized a bit after the massive selloff on Monday.
The West Texas Intermediate Crude Oil market has broken significantly during the session on Monday, slicing through the $40 level.
The West Texas Intermediate Crude Oil market initially pulled back a bit initially during the trading session but found some support at the 50 day EMA before turning around to reach towards the 200 day EMA.
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Sign up to get the latest market updates and free signals directly to your inbox.The oil markets continue to rally as we have seen a very bullish couple of sessions due to the fact that the inventory numbers have been much more bullish than anticipated in the United States.
The West Texas Intermediate Crude Oil market has bounced rather hard during the trading session on Wednesday.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Tuesday and even managed to hang on to the gains overall.