Why There Might Be More Pain Ahead for Oil

The video discusses the recent rally in WTI crude oil, marking its longest winning streak since 2017. The analysis includes a look at oil's performance relative to moving averages, suggesting potential long-term challenges. Steve Sosnik from Interactive Brokers provides insights into the oil market and risk assets, emphasizing short-term trading strategies and market sentiment. The discussion highlights the importance of moving averages in trading decisions and the impact of market sentiment on trading strategies.

What are the implications of oil trading below its 50-day moving average?

What strategy does Steve Sosnik suggest for trading oil in the current market?