Yesterday’s trades
Sell: $50.45
Keyline: $49.50
Buy: $48.45
Oil had an unusual movement yesterday.
The price moved up to Nat’s keyline in the overnight session and dropped after European traders entered the market in the early morning hours.
It recovered and returned to the keyline, but as the day session approached the price began dropping again and eventually moved down about $500 per contract.
Around noon it reversed and moved back up to the keyline and bit beyond for the close.
Overnight traders had a good opportunity to catch the first move, but the exit was not well-defined and some may have missed it.
Trade room subscribers also had the chance to catch the retracement, worth another $500 per contract.