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 WTI Crude Oil market rallied a bit during the trading session on Friday, as the jobs number came out relatively bullish.
The WTI Crude Oil market got absolutely hammered during the trading session on Thursday, as we reached down towards the 50 day EMA.
The WTI Crude Oil market initially pulled back during the trading session on Wednesday but has seen enough buying pressure underneath to push things back and show signs of a recovery.
The WTI Crude Oil market initially rallied on Tuesday but gave back quite a bit of the gains to turn around of form a bit of the shooting star.
The WTI Crude Oil market has shown bullish pressure yet again during the trading session on Monday, recovering quite nicely late in the day.
The WTI Crude Oil market got absolutely hammered on Friday, slicing through the $63 level.
The WTI Crude Oil market pulled back just a bit during the trading session on Wednesday as the EIA numbers came out with a build of over 5 million barrels.
The WTI Crude Oil market continues to show bullish pressure during the trading session on Tuesday, as we continue to see the $65 level left in the background.
The WTI Crude Oil market broke higher during Asian trading as word got out that the Trump administration was going to revoke waivers for countries that were buying Iranian oil.
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The WTI Crude Oil market continues to meander around the $65 level, as we closed out the market on Thursday.
With very limited electronic trading, Friday probably will produce much in the way of action when it comes to the WTI Crude Oil market.
The WTI Crude Oil market rallied initially during trading on Wednesday but continues to see a lot of resistance near the $65 handle.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market pulled back a bit during the trading session initially on Tuesday but found enough buyers underneath the turn around to break above the $64 level again.
The WTI Crude Oil market initially fell during trading on Monday as traders came back to work.
The WTI Crude Oil market initially tried to rally during the trading session on Friday but gave back most of the gains to form a bit of a shooting star.