Oil – inflection points for Mar. 22, 2017

Yesterday’s trades

CL K17, Mar. 21, 2017. 30-minute bars.

Sell: $50.25
Keyline: $49.35
Buy: $48.40

The oil price meandered up to Nat’s keyline in overnight trading and spiked briefly above it before the opening. It traded around that level for about three hours with no significant drawdown for shorts.

But it fell precipitously later in the morning, and marched directly to Nat’s buy level, a move that returned about $900 per contract for those who stayed to that level.

Both overnight traders and trade room subscribers had relatively easy entries and exits for a straightforward and profitable trade.

Today’s workbook