Jul 112012
 


CL 08 12 (1 Min) 07.11.12

7/11/2012 Monthly Trade Balance (0230 HI time / 0830 EDT)
Forecast: -48.5B
Actual: -48.7B
Previous Revision: -0.5B to -50.6B
SPIKE WITH 2ND PEAK
Started @ 84.86
1st Peak @ 85.05 – 0232 (2 min)
19 ticks

Reversal to 84.86 – 0234 (4 min)
19 ticks

2nd Peak @ 85.17 – 0246 (16 min)
31 ticks

Reversal to 84.95 – 0256 (26 min)
22 ticks

Notes: Report basically matched the forecast, with a small previous report revision. Still it yielded a small spike that corrected the short term oversold condition and reacted to the falling dollar. It climbed above the 200 SMA and nicked the 50 SMA before retracing. The 2nd peak was able to eclipse the 100 SMA, then the reversal fell just below the 50 and 200 SMAs.