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.