Crude oil is gaining volatilityCrude oil accelerates the momentum as the geopolitical situation escalates. Volatility is high, so trading might be dangerous both for longs and shorts, especially for day or short-term traders.
So, it would make sense to wait for a while until the “smoke goes down” and the price would establish a temporary trading range, which would later be broken to any direction.
The price currently is above the 20-day moving average for $12 in terms of asset price, which is more than 5 times greater than the average daily volatility. It either points to the “overheated” situation or potentially a momentum situation, which means the rapid continuation to the upside after a short phase of consolidation (usually 2-3 days).
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
