-080912.jpg "Click to enlarge")
8/9/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
Forecast: 30B
Actual: 24B
SPIKE WITH 2ND PEAK
Started @ 2.930
1st Peak @ 3.045 – 0432 (2 min)
115 ticks
Reversal to 3.012 – 0435 (5 min)
33 ticks
2nd Peak @ 3.120 – 0457 (27 min)
190 ticks
Reversal to 3.068 – 0517 (47 min)
52 ticks
Notes: Less than expected gain in supply from the forecast caused a large long spike and 2nd peak with a moderate reversal. All 3 SMAs and the PP Pivot were below the trading action at the origin. The initial spike crossed the R1 and R2 Pivots. After a retracement for 33 ticks culminating on the :35 bar, the 2nd peak claimed another impressive 75 ticks beyond the initial spike on the :57 bar. Then the reversal achieved 52 ticks in 20 min after the 2nd peak, before bouncing higher again off of the 50 SMA.