7/5/2011 - GOLD FUTURES

THE VULCAN REPORT
Review of GOLD FUTURES (US@GC.1)
as of Tuesday, July 05, 2011


Today's Price Action


Change   25.7000 (1.73%) 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.




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -28.31
Swing Vix:    -30.57


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    0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days 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-Bought Sell 22 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, GOLD FUTURES's price has been unchanged, and has ranged from a high of 1,512.50 to a low of 1,486.20.


     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 1,512.38 is needed to re-establish the upward trend. However A close below 1,482.10 will establish a new downward trend.


        TREND STRENGTH - ,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,366.50
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,378.25
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 1,502.15 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 1,509.60 


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,513.81
SUPPORT 1,484.89


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,514.80
PulseWave BreakOut SUPPORT - 1,478.30


VOLATILITY
On 7/5/2011, GOLD FUTURES closed   
above the lower band by 33.9%.
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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