Crude Oil to See a Quick Plunge to $86: Streible

The video discusses the recent rebound in oil prices, influenced by factors such as Saudi Arabia's pricing strategies and OPEC's production decisions. Phil provides a market analysis, predicting a short-term recovery in oil prices and outlining a trading strategy involving shorting at $92 with a stop loss at $95. Greg agrees with Phil's assessment, highlighting the current market's risk-reward scenario and volatility. The video concludes with an explanation of scalping in futures trading, emphasizing the need for technology investments for quick market entries and exits.

What are the current production levels and how do they compare historically?

What trading strategy does Phil suggest regarding crude oil prices?