Review of CRUDE OIL FUTURES (US@CL.1)
as of Tuesday, July 26, 2011
Today's Price Action
Change 0.5900 (0.60%) prices closed higher than they opened. with strong Bids going into the close.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 36.69
Swing Vix: 34.55
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 29. This is where it usually forms Resistance. The Swing Vix usually forms Resistance 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 58 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, CRUDE OIL FUTURES's price has increased 0.50% , and has ranged from a high of 100.19 to a low of 97.20.
MOMENTUM
MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 97.03 is needed to re-establish the downward trend. However a close above 102.99 will establish a new upward trend.
TREND STRENGTH - ,
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 92.79
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 92.27
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 98.10
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 98.04
INTRADAY PRICE PROJECTIONS
RESISTANCE 99.85
SUPPORT 98.75
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 99.21
PulseWave BreakOut SUPPORT - 94.53
VOLATILITY
On 7/26/2011, CRUDE OIL FUTURES closed
below the upper band by 13.0%.
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