The top chart is a 15 minute chart just before the close. The bottom chart is the Daily just about the same time.
As you can see on the 15 minute chart, it was a good thing we weren't long when the 10:30am ET weekly Storage Report came out...not! Without inside information, like in "Trading Places", you should be very cautious about scheduled reports. Its always a crap shoot. But this one did favor the direction I suspected on a technical basis. That's why we entered this trade initially. Can't be too upset about missing a win when you don't really have an edge.
Then the question becomes whether to re-enter the long trade or not. The 15 minute looks a little tired and the Daily isn't closing over the 8ema. So, at this point it doesn't look like time to go long yet. Going to continue monitoring.
Today and tomorrow are the quarterly roll over days. This is a good time to transition over to the March contract while we're not in a trade.
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