THE VULCAN REPORT
Review of SILVER FUTURES (US@SI.1)
as of Tuesday, July 26, 2011
Today's Price Action
Change -13.0000 (-0.32%) prices closed lower than they opened. with weak Bids going into the close.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
PulseScan Swing Vix
Swing Vix: 34.72
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 4 period(s) ago.
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 3 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, SILVER FUTURES's price has increased 1.95% , and has ranged from a high of 4,110.50 to a low of 3,821.50.
MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 3,601.63 is needed to re-establish the downward trend. However a close above 4,106.00 will establish a new upward trend.
TREND STRENGTH - ,
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 3,357.25
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 3,111.21
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 3,714.96
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 3,919.70
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 4,088.00
PulseWave BreakOut SUPPORT - 3,821.50
On 7/26/2011, SILVER FUTURES closed
below the upper band by 18.9%.