Oil – inflection points for Feb. 7, 2017

Monday’s trades

Sell level: 55.05
Keyline: 54.50
Buy level: 53.20

Another tricky trade. The overnight rally stopped short of Nat’s Keyline, and the subsequent decline passed through her Buy level.

Traders who faded her entry overnight (especially those in Europe and the East) had a good trade down to her Buy level that was worth about $900 per contract.

Those who stuck strictly to her entries were likely stopped out below the Buy level.

Today’s workbook

Download link: (170207daily-trading-worksheet-Oil.pdf, 145KB)