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 continues to be very uninspiring, as we simply go sideways.
The West Texas Intermediate Crude Oil market has pulled back during the trading session on Friday, reaching down towards the 200 day EMA just below.
The West Texas Intermediate Crude Oil market has pulled back initially during the trading session on Thursday on a stronger US dollar
The West Texas Intermediate Crude market did fall initially during the trading session on Thursday but recovered after several OPEC oil ministers had positive comments for the outlook when it came to demand for the product.
The West Texas Intermediate Crude Oil market initially pulled back a bit during the trading session on Tuesday but found buyers once again in order to grind the upside.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Monday to start off the week, but it looks as if we are still struggling a bit to break out to the upside.
The West Texas Intermediate Crude Oil market has pulled back slightly during the trading session on Friday, showing signs that we are nowhere near getting ready to make a significant move.
The West Texas Intermediate Crude Oil market has shown itself to be slightly bullish, as we continue to grind overall to the upside.
The West Texas Intermediate Crude Oil market rallied slightly during the trading session on Wednesday, as we continue to see a lot of momentum to the upside.
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The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday, even gapping ever so slightly higher.
The West Texas Intermediate Crude Oil market rallied just a bit during the trading session on Monday to kick off the week, as we continue to see the US dollar look a bit soft in general.
The West Texas Intermediate Crude Oil market has fallen slightly during the trading session on Friday, as the 200 day EMA continues to attract a lot of attention.
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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 went back and forth during the trading session on Thursday as we continue to simply kill time in order to figure out what to do next.
The West Texas Intermediate Crude Oil market rose during the trading session on Tuesday but gave back quite a bit of the gains to turnaround and form a bit of a shooting star.
The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday before turning around to show signs of strength.