Feb 292012
2/29/2012 Weekly Crude Oil Inventory Report (0530 HI time / 1030 EDT)
Forecast: 1.8M
Actual: -0.2M
SPIKE / RETRACE
Started @ 106.62
1st Peak @ 106.09 – 0531 (1 min)
53 ticks
Reversal to 106.75 – 0536 (6 min)
66 ticks
Notes: Report released in the middle of FED chair Bernanke testimony before Congress. Market was already in a down trend. Report spiked down, then reversed almost up to the 100 SMA.