Review of $0$ XAU/USD - GOLD Spot/GOLD FUTURES (XAU USD)
as of Tuesday, September 20, 2011
Today's Price Action
Change 26.2000 (1.47%) prices closed higher than they opened. with strong Bids going into the close.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -19.98
Swing Vix: -16.10
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of 7 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 19 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/GOLD FUTURES's price has decreased 2.91%, and has ranged from a high of 1,889.10 to a low of 1,765.40.
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. - 1,597.30
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,500.83
INTRADAY PRICE PROJECTIONS
RESISTANCE 1,816.42 -
SUPPORT 1,769.89 - -
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,949.07- GO LONG here 1,949.07 place stoploss here 1,755.53
PulseWave BreakOut SUPPORT - 1,680.13-
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,576.49
Long term Trend Line resistance is currently at - 1,923.70
Long term Trend Line support is currently at - 1,597.30
VOLATILITY
On 9/20/2011, $0$ XAU/USD - GOLD Spot/GOLD FUTURES closed
above the lower band by 37.0%.
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