May 072013

NG 06-13 (1 Min)  4_25_2013

4/25/2013 Weekly Natural Gas Storage Report (1030 EDT)
Forecast: 33B
Actual:  30B
Started @ 4.188
1st Peak @ 4.285 – 1031 (1 min)
97 ticks

Reversal to 4.200 – 1032 (2 min)
85 ticks

Notes:  Slightly smaller gain on the reserve compared to the forecast saw a healthy long spike of 97 ticks after a premature short move on the :30 bar.  The spike crossed all 3 SMAs and the PP/R1 Pivots, and extended the HOD 55 ticks.  It was unsustainable, leaving about 50 ticks of the bar naked as the :31 bar settled on the PP Pivot.  The reversal was quick, bottoming on the :32 bar for 85 ticks.  Then it attempted a 2nd peak, but could only manage coming within 18 ticks of the 1st peak before it fell back to chop sideways near the SMAs.  With JOBB, you would have filled long at about 4.220 with 22 ticks of slippage, then look to exit at about 4.280 at the R1 Pivot where it hovered near the top for about 8 sec before falling.