THE VULCAN REPORT
Review of $0$ XAG/USD - SILVER Spot (XAG USD)
as of Friday, August 26, 2011
Today's Price Action
Change 0.1900 (0.46%) prices closed higher than they opened. with strong Bids going into the close.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: 12.96
Swing Vix: 15.75
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 2 period(s) ago. 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 28 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, $0$ XAG/USD - SILVER Spot's price has increased 4.08% , and has ranged from a high of 42.48 to a low of 38.76.
MOMENTUM
MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.
TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term top. This means that the bulls are liquidating long positions thus taking some profit off the table.,,BULLISH MOMENTUM,
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 34.33
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 32.75
INTRADAY PRICE PROJECTIONS
RESISTANCE 41.56 - GO LONG here 42.35 place stoploss here 39.61
SUPPORT 40.05 - -
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 45.32- GO LONG here 45.32 place stoploss here 39.61
PulseWave BreakOut SUPPORT - 37.04-
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 80.81
Long term Trend Line resistance is currently at - 49.82
Long term Trend Line support is currently at - 34.33
VOLATILITY
On 8/26/2011, $0$ XAG/USD - SILVER Spot closed
below the upper band by 31.8%.
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