8/14/2011 - XAU/USD - GOLD

THE VULCAN REPORT
Review of $0$ XAU/USD - GOLD Spot (XAU USD)
as of Friday, August 12, 2011


Today's Price Action


Change  -49.0000 (-2.73%) prices closed lower than they opened.  with strong Bids going into the close.




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     36.60
Swing Vix:     37.49


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 daysHowever, the Swing Vix just crossed below 39 from a topping formation.  This is a bearish sign.  
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  0 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, $0$ XAU/USD - GOLD Spot's price has been unchanged, and has ranged from a high of 1,770.90 to a low of 1,725.80.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.


        TREND STRENGTH - STRONG - Bullish Trend,,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,513.90
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,432.48


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,773.16 - place stoploss here 1,793.60 -  1,793.60 
SUPPORT 1,723.55 - GO SHORT here 1,703.40 - 1,703.40


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,567.23  
PulseWave BreakOut SUPPORT - 1,465.97  


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,425.00
Long term Trend Line resistance is currently at - 1,817.60
Long term Trend Line support is currently at - 1,513.90


VOLATILITY
On 8/12/2011, $0$ XAU/USD - GOLD Spot closed   
below the upper band by 15.5%.
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.