7/11/2013 Weekly Natural Gas Storage Report (1030 EDT)
Forecast: 80B
Actual: 82B
SPIKE WITH 2ND PEAK
Started @ 3.699 (1029)
1st Peak @ 3.640 – 1033 (4 min)
59 ticks
2nd Peak @ 3.574 – 1109 (40 min)
125 ticks
Reversal to 3.606 – 1124 (53 min)
32 ticks
Notes: Nearly matching gain on the reserve compared to the forecast saw a short spike without a premature move as the :30 bar was transitioning to the :31 bar that crossed all 3 major SMAs, bottoming on the S1 Mid Pivot and the 200 SMA . With JOBB, you would have filled short at 3.679 with about 10 ticks of slippage. Look to exit on the 200 SMA / S1 Mid Pivot with about 30 ticks. The internal retracement as it was chopping would have been accommodated with the 20 tick stop. After the 1st peak, it struggled to go lower for a few min, then fell for a 2nd peak of 66 more ticks in the next 30 min, never crossing the 13/20 SMAs and nearly reaching the S2 Mid Pivot. Then it reversed for 32 ticks in 13 min back to the S1 Pivot and 50 SMA.