7/5/2012 Weekly Crude Oil Inventory Report (0500 HI time / 1100 EDT)
Started @ 87.48
1st Peak @ 88.03 – 0501 (1 min)
Reversal to 87.37 – 0521 (21 min)
Notes: More loss of inventory than expected caused a healthy long spike for 55 ticks in 1 min. With JOBB, you would have filled long at about 87.60, then had an opportunity to get at least 30 ticks with ease. As the market had been in a buying mode for the previous hour, it reversed at 88.03 at the R3 Pivot to come back to nick the 200 SMA 20 min later for 66 ticks.