11/28/2012 Weekly Crude Oil Inventory Report (0530 HI time / 1030 EST)
Started @ 85.69
1st Peak @ 85.51 – 0531 (1 min)
Reversal to 85.70 – 0531 (1 min)
Reversal to 86.45 – 0556 (26 min)
Notes: Small loss in oil inventories when a small gain was expected coupled with a big gain in gasoline and small drop in distillates caused an indecisive reaction. With JOBB, you would have filled short at about 85.53 with 6 ticks of slippage, then seen it head for your stop loss in 3 sec. After the :31 bar settled lower, the long term reaction reversed long for nearly 100 ticks in 25 min, reacting more to the drop in crude and distillates, while also correcting from the big selloff in the last 10 hrs.