Oil – inflection points for Mar. 27, 2017

Friday’s trades

Cl K17, Mar. 24, 2017. 30-minute bars.

Sell: $49.00
Keyline: $48.00
Buy: $47.25

Oil also made a dump-and-pump move Friday, falling sharply to the low of the day in the morning, then recovering all of the loss — and a bit more — in the afternoon.

For overnight traders the price moved up after Thursday’s close to Nat’s keyline and slightly beyond, setting up a fairly good entry with a modest drawdown.

The price dropped sharply in the morning session and made a spiking low that stopped well above Nat’s buy level. Overnight traders who got out at that point or somewhere near it did well; those who held on for the close saw their profit disappear in the subsequent bounce.

Trade room subscribers had a good entry near the open, and the opportunity to catch both sides of the move, for a potential profit of about $1000 per contract.

Today’s workbook

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