NG 08 12 (1 Min) 07.19.12

7/19/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
Forecast: 34B
Actual: 28B
SPIKE WITH 2ND PEAK
Started @ 2.934
1st Peak @ 3.015 – 0431 (1 min)
81 ticks

Reversal to 2.971 – 0433 (3 min)
44 ticks

2nd Peak @ 3.032 – 0437 (7 min)
98 ticks

Reversal to 2.943 – 0444 (14 min)
89 ticks

Notes: Less than expected gain in supply from the forecast caused a large long spike and 2nd peak with a large quick acting reversal. All 3 SMAs and the PP Pivot were crossed near the origin. After a retracement for 44 ticks on the :33 bar, the 2nd peak claimed another 17 ticks beyond the initial spike on the :37 bar. Then the reversal achieved 89 in a relatively quick 7 min, before bouncing higher again off of all 3 SMAs.