May 062013

NG 04-13 (1 Min)  3_21_2013

3/21/2013 Weekly Natural Gas Storage Report (1030 EDT)
Forecast: -70B
Actual: -62B
Started @ 3.957
1st Peak @ 3.891 – 1031 (1 min)
66 ticks

Reversal to 3.991 – 1041 (11 min)
100 ticks

Extended Reversal to 4.025 – 1146 (76 min)
134 ticks

Notes:  Moderately less draw on the reserve than was forecast saw a short spike of 66 ticks on the :31 bar after a large premature short spike on the :30 bar that crossed the PP Pivot and eclipsed the S1 Pivot.  Then it retreated strongly leaving 42 ticks on the tail naked.  With JOBB, you would have filled short at about 3.934 with about 13 ticks of slippage, then if you had placed a target at the S1 Pivot, you would have captured 37 ticks with about 30 sec remaining on the :31 bar.  As the long term trend on the NG is bullish, the reversal retreated back above the origin for 100 ticks in a short 11 min.  Then after a short move, it climbed for an extended reversal of 34 more ticks an hour later.