Oil price is not here to stay
There is a very low volume around 70-75 range for crude oil. If there is a reason to increase the price, it will shoot past this range and go to 90 and beyond. If there is not a concern it will revert back to <60 prices where oil is mostly traded.
Now might be a better time to use some options strategy such as Straddle or Strangle.
In my opinion, it will fall down rather than shoot past $75. $75 is very significant resistance.
Now might be a better time to use some options strategy such as Straddle or Strangle.
In my opinion, it will fall down rather than shoot past $75. $75 is very significant resistance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.