Oil – inflection points for Feb. 16, 2017

Yesterday’s trades

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

Sell: $54.35
Keylne: $53.00
Buy: $52.40

Another frustrating day for oil traders. The price fluctuated around Nat’s Keylne with no clear direction.

It did not reach either the Buy or the Sell levels. The daily range was smaller than recent days.

When it did make a move after the day session open the price failed to reach the exit point for traders who went long at the Keyline (as we did).

Instead it gave back all of the potential profit and closed for a small gain.

Today’s workbook