6/7/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
SPIKE WITH 2ND PEAK
Started @ 2.398
1st Peak @ 2.333 – 0431 (1 min)
2nd Peak @ 2.304 – 0450 (20 min)
94 ticks (2x bottom)
Reversal to 2.324 – 0508 (38 min)
Notes: Small offset in the supply gain from the forecast caused a surprising large short spike and 2nd peak with a minimal reversal. The market must have been look for an excuse to sell off. No SMAs were crossed, but the S2 Pivot was crossed about halfway down the :31 bar path. The 2nd peak claimed another 29 ticks in about 20 min, and the reversal only achieved 20 ticks in 38 min before dropping again.