Nov 012012

CL 12 12 (1 Min) 11.01.12

11/1/2012 Weekly Crude Oil Inventory Report (0500 HI time / 1100 EDT)
Forecast: 1.9M
Actual: -2.0M
Started @ 86.70
1st Peak @ 86.95 – 0501 (1 min)
25 ticks

2nd Peak @ 87.42 – 0509 (9 min)
72 ticks

Reversal to 86.99 – 0519 (19 min)
43 ticks

Notes: Report was moved from Wednesday at its normal time to Thursday at 30 min later due to hurricane Sandy. Moderate loss in inventory when a moderate gain was expected caused a smaller than normal long spike for 25 ticks in 1 min. It is likely the R1 Pivot provided stronger than normal resistance to restrict the upward momentum. With JOBB, you would have filled long at about 86.83 with 3 ticks of slippage, then had an opportunity to get about 5-10 ticks or more as it bobbed under the R1 Pivot. After 3 min of struggling to breach the R1 Pivot, it finally succeeded and climbed for a 2nd peak of 72 ticks on the :09 bar. Then it reversed for 43 ticks 10 min later on its way to the 50 SMA and continued to challenge each major SMA at varying intervals later.