Oil – inflection points for Mar. 29, 2017

Yesterday’s trades

CL K17, Mar. 28, 2017. 30-minute bars.

Sell: $48.75
Keyline: $48.00
Buy: $47.25

Oil futures made a low around $47.10 in Monday’s day session and have been climbing steadily since then.

Yesterday overnight traders had an excellent entry point when the uptrend moved across Nat’s keyline overnight and continued on to her sell level during the day session.

Subscribers to the live trade room who missed that trade still had a second chance if they took the short from Nat’s sell level to the close.

The move up was worth about $700 per contract; the retracement from the sell level was worth about half that. There was very little drawdown on either of the trades, which made them fairly easy to catch.

Today’s workbook

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