Review of /(YG) GOLD FUTURES (YG) as of Monday, August 15, 2016

THE VULCAN REPORT

Review of /(YG) GOLD FUTURES (YG)

as of Monday, August 15, 2016

Today's Price Action

Change   -1.2999 (-0.10%) with weak Bids going into the close. prices closed higher than they opened.

    CHART PATTERNS

A white body occurred (because prices closed higher than they opened).

During the past 10 bars, there have been 7 white "UP" candles and 3 black "DOWN" candles  for a net of 4 white (UP) candles.

During the past 50 bars, there have been 24 white "UP"  candles and 25 black "DOWN" candles  for a net of 1 black (DOWN) candles.

A doji star occurred (where a doji gaps above or below the previous candle).  This often signals a reversal with confirmation occurring on the next bar.

A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

MARKET SENTIMENT

 

PulseScan Swing Vix

PulseScan:     12.02

Swing Vix:     14.48

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 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-Sold Buy 33 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, /(YG) GOLD FUTURES's price has increased 1.54% , and has ranged from a high of 1,374.2000 to a low of 1,311.0000.

MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.

INTRADAY PRICE PROJECTIONS

RESISTANCE 1,364.5150 

SUPPORT 1,334.1899    

WEEKLY PULSE WAVE PRICE PROJECTIONS

PulseWave BreakOut RESISTANCE - 1,364.5150 

PulseWave BreakOut SUPPORT - 1,334.1899 

VOLATILITY

On 8/8/2016, /(YG) GOLD FUTURES closed  

below the upper band by 23.4%.

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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