Oil – inflection points for Apr. 10, 2017

Friday’s trades

CL K17. Apr. 7, 2017. 30-minute bars.

Sell: $52.25
Keyline: $51.80
Buy $50.50

After the U.S. attack on Syria was announced oil futures immediately spiked about $1.20 a barrel.

The price moved directly to Nat’s second sell level then began working its way back down past her first sell level, eventually spiking below her keyline.

It then bounced back up to the first sell level again for the close.

The first move down was worth about $1000 per contract. The retracement was worth about $400 per contract.

Today’s workbook

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