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Home / Futures Blog / Bullish Trend Continues for WTI Crude Oil as February Futures Expire

Bullish Trend Continues for WTI Crude Oil as February Futures Expire

January 19, 2021 by Jace Jarboe

Crude oil futures continued their rally for the majority of last week making a high @ 53.93 before selling off on Friday prior to the extended holiday weekend. The weaker USD, COVID vaccines, and President-Elect Biden’s new stimulus package all have added to this bullish run in crude oil. Tomorrow the February contract (G) expires so traders should exit or roll their positions into the March (H) contract today. For this reason, I just sold back my long position in GCLG21 @ 52.90 for a realized profit of $900 per contract. Great job to all those who participated with me on this trade! Below is a recap of my trade:

BOUGHT GCLG21 @ 52.00

SOLD @ 52.90 ($900 profit per contract)

*Risk/reward are calculated before commissions and fees*

Call me if you want to discuss this trade – 312-706-7639.

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 Feb Crude Oil – UPDATE 

DAILY Feb Crude Oil – 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 

Filed Under: Trading Advisories

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.

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