02/23/2011 - $XAG/USD - SILVER Spot / Silver Futures

THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Tuesday, February 22, 2011


Today's Price Action


Change   -0.8400 (-2.48%) with weak Bids going into the close. prices closed higher than they opened. 


A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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:     42.07
Swing Vix:     43.32


The Market Pulse is positive since it is trading above 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  
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 19 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, $XAG/USD - SILVER Spot's price has been unchanged, and has ranged from a high of 34.3300 to a low of 32.3900.


     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. -  25.4150
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  23.4412
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -  28.8479 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -  31.4201 


INTRADAY PRICE PROJECTIONS
RESISTANCE  33.8935
SUPPORT  32.8265


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 =  52.1600
Long term Trend Line resistance is currently at -  34.3300
Long term Trend Line support is currently at -  25.4150


BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 105.6500
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET =  87.8200
BUBBLE PHASE I - (24-36mo) PRICE TARGET =  69.9900


VOLATILITY
On 2/22/2011, $XAG/USD - SILVER Spot closed   
below the upper band by 7.3%.
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.    

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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