Oil Futures: +2.3% in two days

Our analysts considered buying WTI futures on Tuesday, September 20, hence we published a question concerning the oil price:

OPEC members are close to reaching an agreement on how to stabilize the market, Venezuelan President Nicolas Maduro said after speaking to his counterparts from Iran and Ecuador. Will WTI futures rise above $46 before September 24?

According to Cindicator users, the probability of such a move was 53%. Therefore, we bought three WTI November futures contracts at $45.05 at 05:40 AM on Wednesday, September 21.

On Thursday, September 22, oil prices surged above $46. Our traders closed two-thirds of the position at $46 and the last third at $46.23.

Gross profit was 2.28% in a few days.

Happy trading,

Cindicator team

Risk Disclosure. Everything we post is for educational purpose only. Futures, options, equity and currency trading involves the risk of loss. Any opinions, news, indicators or other information contained in our blog is provided as general market commentary and does not constitute investment advice or recommendation to buy or sell any type of security, futures contract, or foreign exchange contract.

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