7/19/2010 - XAU/USD - THE VULCAN REPORT Review of GOLD Spot (XAU USD) as of Friday, July 16, 2010

 THE VULCAN REPORT
Review of GOLD Spot (XAU USD)
as of Friday, July 16, 2010

Today's Price Action

Change  -15.5601 (-1.29%)

Weak Bids into the close.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:    -24.53
Swing Vix:    -23.86

The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of    0 period(s) ago. This means that negative momentum has entered the market. Expect sideways to lower prices within the next 3-5 days The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range.  
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 48 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The Swing Vix and price are not diverging.
        Since the last Swing Vix signal, GOLD Spot's price has been unchanged, and has ranged from a high of 1,210.6700 to a low of 1,185.8900.
     
       MOMENTUM
     MARKET TREND - Currently the TREND is - Neutral within the Bullish KUMO Consolidation cloud (Possible Trend Reversal) with Downside Bearish Breakout risk. A close above 1,216.5801 is needed to re-establish the upward trend. However A close below 1,167.5000 will establish a new downward trend.
        TREND STRENGTH -
TRENDLINE RETRACEMENT
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,095.2051
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 1,205.1012
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 1,206.4072
Today's Sell off pushed prices on the close    below the short term trendline resistance

         INTRADAY PRICE PROJECTIONS
        RESISTANCE 1,205.0945
        SUPPORT 1,191.4656

       WEEKLY PRICE PROJECTIONS
      RESISTANCE 1,217.8400
      SUPPORT 1,184.8000

MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 1,604.6500
Long term Trend Line resistance is currently at - 1,265.0200
Long term Trend Line support is currently at - 1,095.2051
   
       VOLATILITY
On 7/16/2010, GOLD Spot closed 
above the lower band by 17.2%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.


     IN PLAY

BULL MARKET LONG/SHORT Signals : 
      
THIS SECURITY IS NOT IN PLAY AT THIS TIME!

BEAR MARKET LONG/SHORT Signals :

THIS SECURITY IS NOT IN PLAY AT THIS TIME!


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. 
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