Oil – inflection points for Mar. 8, 2017

Yesterday’s trades

CL J17 Mar. 7, 2017. 30-minute bars.

Sell: $53.95
Keyline: $53.30
Buy: $52.60

A difficult trade for overnight traders. The price reached Nat’s keyline inflection point overnight with no clear direction until it spiked at the beginning of the day session.

But the rally stopped short of her Sell level, leaving traders with no clear exit.

The price subsequently gave back all of that gain and more, and there was a slight los for those who waited for the close to get out of the position.

After the close there was a dramatic spike down at the beginning of the after-market, that did not reach the buy level.

Today’s workbook

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