Market:_____Crude_________________                                         Date:_____10/16/12___________

Attempted Direction:                                Buyer                                      Seller

1. Rotation Factor (       0       )-neither
2. Range Extension -neither
3. Tails-                                                       X                                                    X
4. Buy/Selling Composite                             X                                                     X
5. Opening Type-Open Auction Out of Range
6. Day Type-Normal

Overall Attempted Direction:                     Higher               Lower           Neutral

Comments: We got the dreaded normal day w/ zero range extention to either side of the IB. Crude looks to be building energy for an upside break as lower prices continue to cut off new selling activity. Not to mention a nice inverted head & shoulders pattern that has formed on the daily chart w/ the 200 ema acting as the neckline. I would continue to look to buy dips unless we lost 91.20-91.30 area now.
Directional Performance:

1. Volume:
Daily:                   (          102k                            )           Higher           Lower            Unchanged
Auction Average:   (        146k                             )          Higher          Lower             Unchanged
2. Value-Area Placement
Higher                       OL/High              Lower           OL/Low                  Unchgd
3.  Value-Area Width:                 Wider              Average                    Narrower

Comments:  We have pretty much formed a new balance area on the daily chart between 91 & 93. A break above 93.66 would signal an upside breakout, if crude can get back into our old balance area (starting at 94.28) we could see a huge move back to our swing high. Accepting price back under 91 would likely lead to short term long liquation back to 88 & big support at 87.50.