Review of $XAG/USD - SILVER Spot (XAG USD)
as of Thursday, November 18, 2010
Today's Price Action
Change 1.3400 (5.23%) prices closed higher than they opened. with strong Bids going into the close.This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area , the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -9.09
Swing Vix: -6.64
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 7 period(s) ago. 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 7 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s). This is bearish.The Swing Vix has set a new 14-period low while the security price has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, $XAG/USD - SILVER Spot's price has increased 0.15% , and has ranged from a high of 29.3400 to a low of 24.9800.
MOMENTUM
MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.
TREND STRENGTH - STRONG - Bullish Trend,
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 21.9850
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 19.5916
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 23.4197
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 26.0441
Today's Rally pushed prices on the close above the short term trendline support
INTRADAY PRICE PROJECTIONS
RESISTANCE 26.7138
SUPPORT 25.9163
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 29.3400
PulseWave BreakOut SUPPORT - 24.9800
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 44.0500
Long term Trend Line resistance is currently at - 29.3400
Long term Trend Line support is currently at - 21.9850
MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 88.1800
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 73.4700
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 58.7600
VOLATILITY
On 11/18/2010, $XAG/USD - SILVER Spot closed
below the upper band by 23.3%.
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.
General Advice Disclosure:
Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. 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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