01/28/2011 - Crude Oil Futures

THE VULCAN REPORT
Review of $CL - LIGHT CRUDE COMPOSITE Continuous (@:CLc1#I)
as of Thursday, January 27, 2011


Today's Price Action


Change   -2.4100 (-2.75%) prices closed lower than they opened. with weak Bids going into the close.This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are "high," it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. 


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -36.31
Swing Vix:    -32.98


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    6 period(s) ago. The Swing Vix is below -29.  This is where it usually forms Support.  The Swing Vix usually forms Support 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 20 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.
      
  *Since the last Swing Vix signal, $CL - LIGHT CRUDE COMPOSITE Continuous's price has decreased 4.11%, and has ranged from a high of 90.8600 to a low of 85.2100.


     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  87.1225 is needed to re-establish the upward trend. However A close below  85.0250 will establish a new downward trend.


        TREND STRENGTH - ,
There is currently no trend strength reading at this time.


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -  78.4100
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  79.8441
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. -  87.3579 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. -  88.4443 


INTRADAY PRICE PROJECTIONS
RESISTANCE  87.1087
SUPPORT  85.7612


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  92.3900
PulseWave BreakOut SUPPORT -  87.2500


VOLATILITY
On 1/27/2011, $CL - LIGHT CRUDE COMPOSITE Continuous closed below the lower band by 7.9%.  


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.     

Risk Disclosure

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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