CL 10 12 (1 Min) 08.29.12

8/29/2012 Weekly Crude Oil Inventory Report (0430 HI time / 1030 EDT)
Forecast: -1.1M
Actual: 3.8M
SPIKE WITH 2ND PEAK
Started @ 95.50
1st Peak @ 95.13 – 0432 (2 min)
37 ticks

Reversal to 95.61 – 0437 (7 min)
48 ticks

2nd Peak @ 94.76 – 0524 (54 min)
74 ticks

Reversal to 95.29 – 0547 (77 min)
53 ticks

Notes: Moderate gain in inventory when a small loss was expected caused a medium sized short spike for 37 ticks in 2 min. With JOBB, you would have filled short at about 95.37, then had an opportunity to get at least 15 ticks or more with ease. The spike did not cross any of the major SMAs or Pivots. After the intial spike, it reversed for 48 ticks before stepping lower to a 2nd peak of 74 ticks in 54 min. Then it reversed for 53 ticks to eclipse the 100 SMA.