Daniels Trading

Trade Futures, Spreads and Options with Confidence.

Home / Futures Blog / WTI Crude Oil Continues Rally into the Weekend

WTI Crude Oil Continues Rally into the Weekend

by

Crude Oil has continued to rally in our direction since my previous update. As mentioned, the bullish inventory reports boosted prices initially and the market has been helped by a number of other fundamental factors including: signs of a weaker dollar, ongoing shuttered gulf production due to the numerous recent hurricanes, and comments out of Saudi Arabia encouraging OPEC compliance on productions cuts. Technically, I am still bullish this position but today marks the initial day to roll the front-month contract (October) to the next contract month (November). You can see the majority of trading volume is now in the November contract, due to the October contract expiring next Tuesday 9/22. 

At the time of this email GCLV20 is trading @ 41.25 (profit of $1,450 per contract) with a high of 41.49 (profit of $1,690 per contract). Great job to all who participated in this trade with me!

I recommend exiting the October contract now and taking profits before the weekend OR rolling into the November contract (GCLX20). If you want to discuss your options with me further then please give me a call at 312-706-7639!

BOUGHT GCLV20 @ 39.80.00 

SOLD GCLV20 @ 41.25 ($1,450 profit per contract)

*Risk/reward are calculated before commissions and fees*

If you are interested in receiving these updates in real-time every day sent to your email,  subscribe to the Jarboe Trading Journal >>

30 MIN CL – UPDATE

Daily CL – UPDATE

Jace Jarboe | Futures & Options Broker:
Phone: 312-706-7639
Email: jjarboe@danielstrading.com
Broker Bio

 

Find More Opportunities in Crude Oil Futures Like This One

This is an example of one specific trade, but navigating today’s markets can be tough for new and experienced traders alike. If you’re actively trading futures and are looking for the insight, education, and empowerment to make better trades, join the Jarboe Trading Journal for the guidance you need. In the meantime, download my free Introduction to Oil and Gas Futures guide to expand your knowledge of the energy futures markets and prepare for the next opportunity.

CTA Introduction to Oil and Gas Futures 

Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

© 2021 StoneX Group Inc. All Rights Reserved

About Jace Jarboe

Jace Jarboe is a Futures & Options Broker with Daniels Trading. He is a licensed Series 3 and Series 34 broker with the National Futures Association (NFA). Prior to joining the futures industry, Jace attended Indiana University where he received a Bachelor of Arts degree in Economics. Since 2016, Jace has been devoted to learning all aspects of the futures industry and is dedicated to helping his clients achieve their short and long term trading goals. Jace assists clients in a variety of commodity sectors, with both speculating and hedging, and through utilizing futures, options, spreads, and spot FX. He uses his combined technical and fundamental analysis trading style to identify the best market trends and opportunities available. Jace aims to present trade recommendations which are most suitable for each specific client depending on their risk tolerance and intended trade duration. He has worked with hundreds of clients in his experience. In 2020, Jace launched his own trading advisory to further promote his futures markets expertise to a wider audience. This market newsletter is called the Jarboe Trading Journal and focuses primarily on presenting real-time trade recommendations to subscribers.