CL 09 12 (1 Min) 07.18.12

7/18/2012 Weekly Crude Oil Inventory Report (0430 HI time / 1030 EDT)
Forecast: 0.5M
Actual: -0.8M
INDECISIVE
Started @ 89.69
1st Peak @ 89.87 / Retrace to 89.63 – 0431 (1 min)
18 ticks / -6 ticks

2nd Peak @ 89.31 – 0433 (3 min)
38 ticks

Reversal to 90.32 – 0458 (28 min)
101 ticks

Notes: Small loss of inventory when a small gain was expected. The close proximity to the 0 line and the small margin caused indecision. The :31 bar was indecisive, then the market briefly dropped to cross all 3 major SMAs before reversing on the :33 bar to shoot up for 101 ticks in 25 min. With gasoline numbers dropping, along with the crude, and the dollar notching lower, the market rallied strongly. With JOBB, you would have gotten in long at about 80.82, and had little opportunity for profit before it retraced down to 80.63 below the stop loss.