02/02/2011 - Silver Spot Silver Futures

THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Tuesday, February 01, 2011


Today's Price Action


Change    0.5500 (1.96%) prices closed higher than they opened.  with strong Bids going into the close.


Three white candles occurred in the last three days.  Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     -9.16
Swing Vix:    -14.11


The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    4 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-Sold Buy  4 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s).  This is bullish.The Swing Vix has set a new 14-period high while the security price has not.  This is a bullish divergence. Since the PulseScan leads the market 3-5 days out  We will wait to see if an upside breakout occurs.
      
  *Since the last Swing Vix signal, $XAG/USD - SILVER Spot's price has increased 3.66% , and has ranged from a high of 28.6300 to a low of 26.3000.


     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  28.9725 is needed to re-establish the upward trend. However A close below  26.7550 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. -  23.2250
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  22.6174
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -  27.6780 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -  27.8208 


INTRADAY PRICE PROJECTIONS
RESISTANCE  28.4545
SUPPORT  28.0255


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  27.9500
PulseWave BreakOut SUPPORT -  26.3000


VOLATILITY
On 2/1/2011, $XAG/USD - SILVER Spot closed   
below the upper band by 42.3%.
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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