Oil – inflection points for Mar. 15, 2017

Yesterday’s trades

CL J17, Mar. 14, 2017. 30-minute bars.

Sell: $49.50
Keyline: $48.45
Buy: $47.10

Oil moved marginally above Nat’s keyline early in the Globex session, then fell dramatically exactly to her Buy level.

The price reversed in the day session and regained most of the loss by the end of the day session.

The price continued climbing after hours and returned to the high of the overnight session before falling back.a little. Lots of potential profit in those moves.

Both oil and gold will be affected by the FOMC decision this afternoon, and traders will be jockeying for position before the announcement. Price spikes up or down are likely and stops are vulnerable.

Today’s workbook

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