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.