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.
30 MIN Feb Crude Oil – UPDATE
DAILY Feb Crude Oil – UPDATE
Jace Jarboe | Futures & Options Broker:
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