Buy RBOB using the March futures contract in my opinion, last as of this writing 1.4136, the stop level is 1.3950 with targets of 1.4645 and 1.4975. I am looking at potential continued strength from the 1.2424 low on 12/26/18 and the 1.3760 low on 1/9/19. The RBOB Futures Contract has held support and data indicates solid Global demand to potentially drive the price to as high as 1.5000 from here.
Consider a Call spread on the March Future, the March RBOB 1.43/1.50 Call spread costing .0219 = $919.80 of quantifiable risk plus fees and associated costs per transaction to enter the trade.
To discuss any strategies feel free to call 888-391-7894 or email me peterori@walshtrading.com
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