Apr 272013

CL 04-13 (1 Min) 3_13_2013
3/13/2013 Weekly Crude Oil Inventory Report (1030 EDT)
Forecast: 2.3M
Actual: 2.6M
Started @ 93.12
1st Peak @ 92.92 – 1031 (1 min)
20 ticks

Reversal to 93.12 – 1032 (2 min)
20 ticks

2nd Peak @ 92.83 – 1037 (7 min)
29 ticks

Reversal to 93.15 – 1113 (43 min)
31 ticks

Notes: Slightly higher gain in crude inventories than expected, while gasoline saw a large drop and distillates saw no change. This prompted a relatively tame and small short move of 20 ticks that crossed the 50/100 SMAs near the origin and eclipsed the 200 SMA at the bottom. With JOBB and a 10 tick buffer, you would have filled short at 93.00 with 2 ticks of slippage. Then you would have seen it hover between your fill point and 92.95 after a brief dip to 92.92. Look to exit with a handful of ticks and move your stop loss to break even. After a quick reversal on the next bar to the origin, it achieved a 2nd peak of 29 ticks 5 min later, nearly reaching the PP Pivot. Then it chopped sideways caught between the interweaving SMAs and eventually hit a reversal peak of 31 ticks about 43 min after the report.