Apr 202013

CL 03-13 (1 Min) 1_24_2013
1/24/2013 Weekly Crude Oil Inventory Report (1100 EST)
Forecast: 1.9M
Actual: 2.8M
Started @ 96.14
1st Peak @ 95.94 – 1101 (1 min)
20 ticks

Reversal to 96.45 – 1107 (7 min)
51 ticks

Extended Reversal to 96.68 – 1136 (36 min)
74 ticks

Notes: Moderate gain in crude inventories, while gasoline saw a moderate drop and distillates saw a negligible gain. This prompted a small short move of 20 ticks that crossed the 50 and 100 SMAs then bottomed at the 200 SMA on the :02 bar, moving on the crude #s first. With JOBB and a 10 tick buffer, you would not have filled initially. Close out the order after the initial reaction in a few seconds does not fill you. It is likely dull or conflicted. Thus we saw a relatively small short move initially. Then it reversed decisively and eclipsed the R1 Pivot and the HOD for 51 ticks 5 min later on the gasoline results. It continued to test the R1 Pivot and eventually broke through for another 23 ticks up to 96.68. After that it fell strongly in the next hour.