November Crude Oil futures are up around 1.30+ today at the present time. We were able to catch a positive bounce in the last 24 hours with assistance from the API reporting a larger than expected 6M barrel drawdown in crude oil inventories yesterday afternoon. Bullish price action continued in the overnight and we are close to today’s highs now @ 71.91 ($1,660 profit per contract). The official EIA report comes out shortly at 9:30AM *CST so I’m going to go ahead with exiting our position here now and take profits! Great job to all who participated on this trade with me!
Check out my full technical analysis below in the charts. I recommended the following trade yesterday 9/21:
BOUGHT GCLX21 @ 70.25
SOLD GCLX21 @ 71.80 ($1,550 profit per contract)
*Risk/reward are calculated before commissions and fees*
Call me if you need assistance with executing this trade – 312-706-7639.
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Jace Jarboe | Futures & Options Broker:
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