Oil – inflection points for Mar. 9, 2017

Yesterday’s trades

CL J17. Mar. 7-8, 2017. 60-minute bars.

Sell: $53.95
Keyline: $53.20
Buy: $52.80

After 12 weeks  moving back and forth within a well-defined range, Oil made a large break-out to the downside yesterday.

We’ve shown the two-day chart to indicate the magnitude of the move, worth about $3,700 per contract high-to-low over the two days.

The price decline stalled at Nat’s buy level overnight, but crashed during the day session. Both overnight traders and subscribers to the trade room were stopped out, unless they recognized the decline in time and got short.

Today’s workbook