9/23/2011 - XAU/USD - GOLD Spot/GOLD FUTURES

THE VULCAN REPORT
Review of $0$ XAU/USD - GOLD Spot/GOLD FUTURES (XAU USD)
as of Thursday, September 22, 2011


Today's Price Action


Change  -43.6000 (-2.45%) prices closed lower than they opened. with weak Bids going into the close. 




     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -33.40
Swing Vix:    -30.82


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    9 period(s) ago. The Swing Vix is below -29.  This is where it usually forms Support.  The Swing Vix usually forms Support before the underlying security.  
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 21 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.
      
  *Since the last Swing Vix signal, $0$ XAU/USD - GOLD Spot/GOLD FUTURES's price has decreased 6.58%, and has ranged from a high of 1,889.10 to a low of 1,723.20.


     MOMENTUM


     MARKET TREND - Currently the TREND is Slightly Bullish - WARNING Possible Bullish-Retracement - (The TenkanSen has crossed below the KijunSen TODAY!").


        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.,T/K BREAKDOWN,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,602.16


The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,508.39




INTRADAY PRICE PROJECTIONS
RESISTANCE 1,792.29 -   


SUPPORT 1,719.91 - GO SHORT here 1,684.60 - place stoploss here 1,816.20 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,949.07- GO LONG here 1,949.07 place stoploss here 1,684.60


PulseWave BreakOut SUPPORT - 1,680.13-  




MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,566.78
Long term Trend Line resistance is currently at - 1,923.70
Long term Trend Line support is currently at - 1,602.16




VOLATILITY
On 9/22/2011, $0$ XAU/USD - GOLD Spot/GOLD FUTURES closed below the lower band by 2.2%.  


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.