02/21/2011 - Silver Spot / Silver Futures

THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Monday, February 21, 2011


Today's Price Action


Change    1.3100 (4.02%) 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.


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:     46.10
Swing Vix:     45.82


The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    3 period(s) ago. The Swing Vix is above 39.  This is where it usually tops.  The Swing Vix usually forms tops and bottoms 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 has just reached its highest value in the last 14 period(s).  This is bullish.
      
  *Since the last Swing Vix signal, $XAG/USD - SILVER Spot's price has increased 10.47% , and has ranged from a high of 33.9900 to a low of 30.2600.


     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. -  25.2450
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  23.3320
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -  28.6950 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -  30.9890 


INTRADAY PRICE PROJECTIONS
RESISTANCE  33.6705
SUPPORT  32.8895


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  30.5000
PulseWave BreakOut SUPPORT -  29.2600


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET =  51.4800
Long term Trend Line resistance is currently at -  33.9900
Long term Trend Line support is currently at -  25.2450


BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 103.9500
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET =  86.4600
BUBBLE PHASE I - (24-36mo) PRICE TARGET =  68.9700


VOLATILITY
On 2/21/2011, $XAG/USD - SILVER Spot closed   above the upper band by 9.5%.


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.    

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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