Oil – inflection points for Jan. 12, 2017

Oil futures, Jan. 11, 2017. 60-minute bars.

Oil made a good move in the day session which was neatly captured between Nat’s keyline and her first sell level. The full move was worth about $1,400 per contract.

However there was a terrifying spike down near the start of the day session that would have shaken many traders out.

Overnight traders with a stop near the previous support level probably got hit, and may not have had an opportunity to re-enter the trade.

Oil – daily workbook

Download link: (170112-daily-trading-worksheet-oil.pdf, 145KB)