THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Tuesday, February 01, 2011
Today's Price Action
Change 0.5500 (1.96%) prices closed higher than they opened. with strong Bids going into the close.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -9.16
Swing Vix: -14.11
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of 4 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-Sold Buy 4 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s). This is bullish.The Swing Vix has set a new 14-period high while the security price has not. This is a bullish divergence. Since the PulseScan leads the market 3-5 days out We will wait to see if an upside breakout occurs.
*Since the last Swing Vix signal, $XAG/USD - SILVER Spot's price has increased 3.66% , and has ranged from a high of 28.6300 to a low of 26.3000.
MOMENTUM
MARKET TREND - Currently the TREND is - Neutral within the Bullish KUMO Consolidation cloud (Possible Trend Reversal) with Downside Bearish Breakout risk. A close above 28.9725 is needed to re-establish the upward trend. However A close below 26.7550 will establish a new downward trend.
TREND STRENGTH - There is currently no trend strength reading at this time.
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 23.2250
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 22.6174
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 27.6780
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 27.8208
INTRADAY PRICE PROJECTIONS
RESISTANCE 28.4545
SUPPORT 28.0255
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 27.9500
PulseWave BreakOut SUPPORT - 26.3000
VOLATILITY
On 2/1/2011, $XAG/USD - SILVER Spot closed
below the upper band by 42.3%.
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.
Risk Disclosure
THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Wednesday, January 26, 2011
Today's Price Action
Change 0.6900 (2.57%) prices closed higher than they opened. with strong Bids going into the close.
An engulfing bullish line occurred (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with $XAG/USD - SILVER Spot). It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -38.85
Swing Vix: -39.03
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of 0 period(s) ago.This means that positive momentum has entered the market. Expect sideways to higher prices within the next 3-5 days However, the Swing Vix just crossed above -39 from a bottoming formation. This is a bullish sign.
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 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, $XAG/USD - SILVER Spot's price has been unchanged, and has ranged from a high of 27.6400 to a low of 26.6500.
MOMENTUM
MARKET TREND - Currently the TREND is - Neutral within the Bullish KUMO Consolidation cloud (Possible Trend Reversal) with Downside Bearish Breakout risk. A close above 28.4300 is needed to re-establish the upward trend. However A close below 26.7550 will establish a new downward trend.
TREND STRENGTH - ,
There is currently no trend strength reading at this time.
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 23.0900
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 22.4332
The close is currently Below it's Intermediate Term TRENDLINE RETRACEMENT. - 27.6783
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 27.9028
INTRADAY PRICE PROJECTIONS
RESISTANCE 27.4172
SUPPORT 26.8728
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 29.4900
PulseWave BreakOut SUPPORT - 26.5400
VOLATILITY
On 1/26/2011, $XAG/USD - SILVER Spot closed
above the lower band by 22.2%.
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.
isk Disclosure
