Wednesday, June 23, 2010 - Crude Oil - THE VULCAN REPORT Review of OIH - NYMEX LIGHT SWEET CRUDE OIL ETF (OIH)

THE VULCAN REPORT
Review of OIH - NYMEX LIGHT SWEET CRUDE OIL ETF (OIH)
as of Tuesday, June 22, 2010



    CHART PATTERNS

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 5 white "UP" candles and 5 black "DOWN" candles.

During the past 50 bars, there have been 20 white "UP"  candles and 30 black "DOWN" candles for a net of 10 black (DOWN) candles.




PulseScan Swing Vix              Swing Index

PulseScan:     31.72
Swing Vix:     31.40

The Market Pulse is positive since it is trading above its signal line.The PulseScan crossed above the Swing Vix   8 period(s) ago.

 


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-Sold Buy 18 period(s) Ago.


The Swing Vix does not currently show any Failure Swings.
The Swing Vix and price are not diverging.
        Since the Swing Vix crossed its moving average, OIH - NYMEX LIGHT SWEET CRUDE OIL ETF's price has increased 2.41% , and has ranged from a high of 107.0200 to a low of 94.7100.

     MARKET TREND

Currently the TREND is - Down.
Today's Trend Momentum reading for OIH - NYMEX LIGHT SWEET CRUDE OIL ETF is:

       \Bearish

The close is currently Below it's Long Term period moving average.111.3850
The close is currently Below  it's Intermediate Term period moving average.109.2044
The close is currently Above  it's Short Term period moving average.101.6630
    
Trend Strength

   


Bearish Consolidation

VOLATILITY

On 6/22/2010, OIH - NYMEX LIGHT SWEET CRUDE OIL ETF closed  
below the upper band by 38.3%.


PANDORA'S LITTLE BLACK BOX


PulseScan LONG ENTRY :  

      














Swing Vix SHORT ENTRY : 







Possible IntraDay 1st PulseWave Consolidation Break-Down SHORT  -  99.2924

   Profit Target  86.8000
   Stop Loss/Stop & Reverse 102.9583



       

INTRADAY PRICE PROJECTIONS
        RESISTANCE 103.8750
        SUPPORT 101.1250

   Watch for possible TREND REVERSAL breakout  longs -  from 107.0200


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.