Nov 152012

CL 01 13 (1 Min) 11.15.12

11/15/2012 Weekly Crude Oil Inventory Report (0600 HI time / 1100 EST)
Forecast: 2.5M
Actual: 1.1M
Started @ 86.07
1st Peak @ 86.27 – 0601 (1 min)
20 ticks

Reversal to 85.76 – 0602 (2 min)
51 ticks

Notes: Smaller gain in oil than expected coupled with a small drop in gasoline and large drop in distillates caused an indecisive reaction. With JOBB, you would have filled long at about 86.22 with 5 ticks of slippage, then seen it head for your stop loss in 5 sec. If you had been quick, you could have closed out with something less than 15 ticks, but not much. After the long pop of only 20 ticks, it reversed for 51 ticks to hit the LOD, then popped back up for a double top. Then it continued oscillating between the 200 SMA and the LOD with the 50/100 SMAs and PP Pivot in the middle.