USOIL to 64$ ?
When trading oil, you will always notice that global prices hike and consumers purchase at a premium price when market makers are selling at a premium. This is why oil price is dropping after we got locked in for higher oil prices all over the globe. I generally look for discount prices in an up trend like oil is doing right now which is why ill be looking for a buy on oil after we break my discount 3 level and potentially trade in to 50% of the bullish engulfing candle from initial rally. Because we are very bullish I personally would not chance shorting oil. After all, Nobody is always right. Hope the chart makes sense.
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