THE VULCAN REPORT Review of /QM LIGHT SWEET CRUDE OIL (QM) as of Monday, June 13, 2016

THE VULCAN REPORT
Review of /QM LIGHT SWEET CRUDE OIL (QM)
as of Monday, June 13, 2016



Today's Price Action

Change   -0.0300 (-0.06%) prices closed lower than they opened.  with strong Bids going into the close.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:     25.10
Swing Vix:     27.14

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 days


The Trend Channel is DOWN!  (i.e. "Negative Swing Vix") This means that negative momentum is entering the market. Expect sideways to lower prices within the next 3-5 days

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  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, /QM LIGHT SWEET CRUDE OIL's price has been unchanged, and has ranged from a high of 49.2800 to a low of 45.9000.

           
     MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below  44.7475 is needed to re-establish the downward trend. However a close above  48.5550 will establish a new upward trend.

   
TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -  69.1450
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  43.9050
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -  40.1318
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -  45.9383
Today's Sell off pushed prices on the close below the short term trendline resistance


INTRADAY PRICE PROJECTIONS
RESISTANCE  49.4490
SUPPORT  48.5195    

WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  51.8275
PulseWave BreakOut SUPPORT -  35.0210

VOLATILITY
On 6/13/2016, /QM LIGHT SWEET CRUDE OIL closed  
below the upper band by 20.0%.
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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