Apr 272013
 

CL 05-13 (1 Min) 4_3_2013

Caption for 4/3:
4/3/2013 Weekly Crude Oil Inventory Report (1030 EDT)
Forecast: 1.8M
Actual: 2.7M
DOWNWARD FAN
Started @ 96.46
1st Peak @ 96.24 – 1032 (2 min)
22 ticks

2nd Peak @ 96.08 – 1038 (8 min)
38 ticks

Reversal to 96.46 – 1055 (25 min)
38 ticks

Final Peak @ 94.89 – 1226 (116 min)
157 ticks

Reversal to 95.37 – 1238 (128 min)
48 ticks

Notes: Moderate gain in crude inventories when a smaller gain was expected, while gasoline saw a small draw and distillates saw a larger draw. This prompted a short move of 22 ticks on the first 2 bars as the crude reading won the battle. With JOBB and a 10 tick buffer, you would have filled short at 96.33 with 3 ticks of slippage. Look to exit at the S1 Pivot at 96.27 for about 6 ticks. After the small relatively small dive, it traded sideways and eventually fell another 16 ticks before reversing for 38 ticks to the origin and the 50 SMA. Then we saw a fan emerge as the CL steadily sold off for 157 ticks in the next 90 min. The final reversal garnered 48 ticks back to the S2 Pivot in a brief 12 min.