West Texas and Brent Crude Oil are higher again this morning, advancing above Thursday reversal highs, amid hopes that the major oil producers will agree on a hefty supply cut.
U.S. crude futures are trading 10.39% higher at $28.09 a barrel, while the Brent contract is up over 15% to $34.45. Both futures contracts gained over 20% in Thursday trading.
Look for a flag or topping candles for signals. If the latter, we’ll consider selling some of our position.
We have options in APRIL 4.50C and May 5.00C that we will sell into strength this morning. We might consider rolling some of the April calls out to May as well. We’ll buy back or add on dips.
S&P500 futures are also off the worst levels.
Join us today in the trading room for our LIVESTREAM broadcast
during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Want to become a member? Check details here:
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.