8/2/2011 - XAU/USD - GOLD Spot

THE VULCAN REPORT
Review of $0$ XAU/USD - GOLD Spot (XAU USD)
as of Friday, August 26, 2011


Today's Price Action


Change   54.7999 (3.09%) prices closed higher than they opened.  with strong Bids going into the close.




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     11.44
Swing Vix:     15.10


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    3 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  3 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.The Swing Vix has set a new 14-period low while the security price has not.  This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
      
  *Since the last Swing Vix signal, $0$ XAU/USD - GOLD Spot's price has decreased 0.24%, and has ranged from a high of 1,917.90 to a low of 1,705.40.


     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. - 1,577.33


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,458.22


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,833.32 -  GO LONG here 1,876.27 place stoploss here 1,735.67


SUPPORT 1,755.98 - GO SHORT here 1,735.67 - place stoploss here 1,876.27 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,950.87- GO LONG here 1,950.87 place stoploss here 1,735.67


PulseWave BreakOut SUPPORT - 1,680.13-  


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,599.04
Long term Trend Line resistance is currently at - 1,917.90
Long term Trend Line support is currently at - 1,577.33


VOLATILITY
On 8/26/2011, $0$ XAU/USD - GOLD Spot closed   
below the upper band by 26.7%.
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.    
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