Oil – inflection points for Mar. 23, 2017

Yesterday’s trades

CL K17, Mar. 22, 2017. 30-minute bars.

Sell: $49.20
Keyline: $48.60
Buy: $47.70

Oil fell sharply, moving past Nat’s original sell level in overnight trading.

It recovered near the start of the day session and overnight traders had hopes of a move up toward Nat’s keyline. But a sudden spike down probably stopped out everyone on the long side.

If they re-entered the trade they could have realized a profit of about $350 per contract with an exit at the close.

Trade room subscribers did better. Nat reset her entry and exit levels after the open, and those who took her new call had a potential profit of about $900 per contract.

Today’s workbook

Comments are closed.