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 again during the trading session on Tuesday, but then turned around to show signs of support just below the $53 level.
The West Texas Intermediate Crude Oil market has broken down a bit during the trading session on Monday, as the $55 level has offered a significant amount of resistance.
Natural gas markets rallied after initially gapping higher on Monday from extreme lows.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, as word got out that the Iranian tanker had been hit by a couple of missiles in the Red Sea.
The West Texas Crude Oil market is likely to find sellers above after a very positive session on Thursday.
Natural gas markets initially tried to rally during the trading session on Thursday as we had reached significant support, but at this point we have turned around to show signs of weakness yet again.
The West Texas Intermediate Crude Oil market initially shot higher during the trading session, then pulled back.
Natural gas markets initially tried to rally during the trading session on Wednesday, but then fell into the support level underneath
West Texas Crude Oil markets have fallen a bit during the trading session on Tuesday, breaking below the $52.50 level.
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The WTI Crude Oil market initially shot higher during the trading session on Monday, breaking above the top of the shooting star shaped candle stick from the Friday session
Natural gas markets gapped slightly lower to kick off the trading session on Monday, and then fell towards the $2.30 level.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, breaking above the top of the hammer from the Thursday session.
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The WTI Crude Oil market fell during most of the trading session on Thursday but found enough support at the psychologically and more importantly, structurally supportive level of $51.
Natural gas markets initially fell during trading on Thursday, as the inventory number came out a bit more bearish than anticipated, but something interesting has happened: buyers stepped in to pick up the market.