Oil – inflection points for Apr. 18, 2017

Monday’s trades

CL K17. Apr. 17, 2017. 30-minute bars.

Sell: $53.65
Keyline: $53.15
Buy: $52.45

Oil futures found overnight support above Nat’s buy level and stayed in a narrow range until European traders became more active n the pre-market.

The price marched up to Nat’s keyline, just below the prior close, and reversed once the day session started and marched back down to the same overnight support. The market closed around that level.

The trade for both overnight traders an subscribers to the trade room was very straightforward: enter at the Keyline and exit at the close.

That trade returned a potential profit of about $400 per contract with virtually no drawdown.

Today’s workbook

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