A steep drop is not necessarily an opportunity to go LONG

Sometimes, we get hynoptised or attracted to huge discounts and this FOMO effect works all the time. Imagine if a branded goods having a 50% discount, you see lots of people taking leaves from work and willing to queue outside the boutique for hours just to get in and buy the products.

Similarly, those who want to get in to USOIL when it was trading below 10 last April and missed the boat would die to come in now for fear of it rising higher above 100 or more as some gurus proclaimed.

Be patient, let the price stays above the bullish trend line for a while before going LONG.