Oil – inflection points for Feb. 15, 2017

Yesterday’s trades

CLH17 Feb. 14, 2017. 30-minute bars.

Sell: $54.05
Keyline: $53.40
Buy: $52.20

Traders who entered overnight at Nat’s keyline got trapped by wide price fluctuations and were almost certainly stopped out.

Traders monitoring the day session had a decent signal to get short when the price moved back below the keyline, but the exit market-on-close only returned about $200 per contract.

The daily range was a little smaller than we have been used to; oil is in a consolidation phase.

Today’s workbook