Oil – inflection points for Feb. 13, 2017

Friday’s trades

CLH17. Feb. 10, 2017. 30-minute bars.

Sell level: $54.35
Keyline: $53.50
Buy level; $52.45

Another trade that was a bit difficult to capture for overnight traders.

The price remained above Nat’s Keyline in the overnight market but a sudden mini-collapse followed by a sharp rally pre-open generated most of the day’s movement.

The price got within 20 cents of Nat’s keyline and some traders may have been fading her entry to improve their chances of catching a trade.

It was a good play Friday: the subsequent move to her Sell level was worth about $800 per contract.

Today’s workbook