CL 12 12 (1 Min) 10.24.12

10/24/2012 Weekly Crude Oil Inventory Report (0430 HI time / 1030 EDT)
Forecast: 2.0M
Actual: 5.9M
SPIKE WITH 2ND PEAK
Started @ 86.46
1st Peak @ 85.55 – 0431 (1 min)
91 ticks

Reversal to 86.10 – 0432 (2 min)
45 ticks

2nd Peak @ 85.41 – 0436 (6 min)
105 ticks

Reversal to 85.99 – 0504 (34 min)
58 ticks

Notes: Large gain in inventory when a smaller gain was expected caused a large long spike for 91 ticks in 1 min. With JOBB, you would have filled short at about 85.35 with 1 tick of slippage, then had an opportunity to get at least 50 ticks or more with ease around the S1 Pivot. The spike crossed the 100 and 50 SMAs along with the S1 Pivot. After the initial spike, it reversed for 45 ticks before stepping lower to a 2nd peak of 105 ticks in 6 min. Then it reversed for 58 ticks to eclipse the 50 SMA before heading south again.