Oil – inflection points for May 2, 2017

Monday’s trades

Sell: $49.95
Keyline: $48.80
Buy: $48.00

Oil futures bounced a little once the Globex market opened Sunday night, but moved steadily down to Nat’s keyline once the day session started and stayed there in a fairly narrow consolidation range for the rest of the day.

There was no obvious entry for the overnight move, and once the day session started the range was too narrow to offer any decent trades.

Volume was ,light, perhaps due to the May 1 holiday in Europe.

 

Today’s workbooks