WTI Crude - EIA inventory day analysis and trade ideas

We are currently trading short setups and short fib extensions measured from last Monday's high at 60.94. The current short extension has the following measurements:


The American Petroleum Institute released their numbers last evening after the broad market close as follows:

  • Crude -1.401
  • Cushing: -1.115
  • Gasoline -.476
  • Distillate +6.226
It is tough to gauge the reaction that Crude Oil could likely see from the Energy Department's numbers this morning at 10.30 am Eastern. However, even if one were to look at this from that last Monday's high's we have the following bearish below readings for WTI Crude:


On EIA news days, we trade small lots and take profits in short moves as inventory news always generates a reactionary trade even if we were to continue trading into the trend eventually. As always, manage risk and trade small on news days.