The Vulcan Report (39) - 13 May 2010 - Gold and Silver Spot
THE VULCAN REPORT
Review of XAU/USD - COMEX GOLD SPOT (XAU USD)
as of Wednesday, May 12, 2010
CHART PATTERNS
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white "UP" candles and 5 black "DOWN" candles for a net of 1 black (DOWN) candles.
During the past 50 bars, there have been 22 white "UP" candles and 27 black "DOWN" candles for a net of 5 black (DOWN) candles.
PulseScan Swing Vix Swing Index
PulseScan: 35.37
Swing Vix: 35.04
Currently The Market Pulse is positive since it is trading above its signal line.The PulseScan crossed above the Swing Vix 3 period(s) ago.
PulseScan LONG ENTRY :
,Hold longs - 1st PulseWave - from 1,210.92
,
,Hold longs - 2nd PulseWave - from 1,213.28,
Swing Vix SHORT ENTRY :
,,
,,
The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days
,
The Swing Vix is above 29. This is where it usually forms Resistance. The Swing Vix usually forms Resistance before the underlying security. A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area. The last signal was a Over-Bought Sell 7 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.
The security price has set a new 14-period high while the Swing Vix has not. This is a bearish divergence.
Since the Swing Vix crossed its moving average, XAU/USD - COMEX GOLD SPOT's price has increased 2.93% , and has ranged from a high of 1,248.320 to a low of 1,183.980.
MARKET TREND
Currently the TREND is VERY-BULLISH- Up.
The current market condition for XAU/USD - COMEX GOLD SPOT is:
Very Bullish\
The close is currently Above it's 264 Long Term period moving average.1,076.51
The close is currently Above it's 40 Intermediate Term period moving average.1,148.99
The close is currently Above it's 10 Short Term period moving average.1,179.36
Volatility
On 5/12/2010, XAU/USD - COMEX GOLD SPOT closed above the upper band by 4.5%. This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing. However, a short-term pull-back inside the bands is likely. 46.35% wider than normal. The large width of the bands suggest high volatility as compared to XAU/USD - COMEX GOLD SPOT's normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The bands have been in this wide range for 1 period(s). The probability of prices consolidating into a less volatile trading range increases the longer the bands remain in this wide range.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
Attachment: 5-13-2010 9-25-47 am - xau usd gold spot.pngThis has been downloaded 0 time(s).
No comments:
Post a Comment