10/3/2013 Weekly Natural Gas Storage Report (1030 EDT)
Forecast: 96B
Actual: 101B
SPIKE/REVERSE
Started @ 3.538 (1029)
1st Peak @ 3.490 – 1031 (1 min)
48 ticks
Reversal to 3.549 – 1055 (25 min)
59 ticks
Pullback to 3.507 – 1128 (58 min)
42 ticks
Notes: Larger gain on the reserve compared to the forecast saw a 48 tick short spike on the :31 bar with the movement on the :30 bar being easily contained within the bracket. The spike crossed the 50 SMA and S1 Mid Pivot near the origin then the S1 Pivot . With JOBB, you would have filled short at 3.510 with about 18 ticks of slippage, then seen it chop between 15 ticks of profit and breakeven. With the S1 Pivot in the middle of the action, place a target just below there at about 3.497 which would have easily filled on multiple occasions. After the :31 bar, it reversed steadily for 59 ticks in the next 24 min beyond the origin, crossing all 3 major SMAs. Then it pulled back to an area just above the S1 Pivot at the bottom of the hour for 42 ticks.