Even though there has been a build-up in crude inventory, I believe people are betting on the recovery of the economy in the coming weeks. We might find ourselves testing 40 again tonight but if the build-up remains by next week probably going to find us dropping back to 35 range again? Going to go long around the 37.7-37.9 range.
Trade closed: target reached:
But market dumped afterwards. Which I should have seen but i ignored general market sentiment.