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Wednesday, July 27, 2011

7/27/2011 - GOLD FUTURES (INTRADAY ANALYSIS)

THE VULCAN REPORT
Review of GOLD FUTURES (US@GC.1)
as of Wednesday, July 27, 2011


Today's Price Action


Change   prices closed lower than they opened. with weak Bids going into the close.  7.1000 (0.44%) 


Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     38.21
Swing Vix:     38.38


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    5 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  1 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period high while the Swing Vix has not.  This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
      
  *Since the last Swing Vix signal, GOLD FUTURES's price has increased 1.36% , and has ranged from a high of 1,628.80 to a low of 1,581.10.


     MOMENTUM


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


        TREND STRENGTH - STRONG - Bullish Trend,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,392.20
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,402.23
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. - 1,535.89 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. - 1,596.66 


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,629.56
SUPPORT 1,612.84


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,610.70
PulseWave BreakOut SUPPORT - 1,581.10


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,102.00
Long term Trend Line resistance is currently at - 1,628.80
Long term Trend Line support is currently at - 1,392.20


MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 3,521.60
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 3,048.40
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 2,575.20


VOLATILITY
On 7/27/2011, GOLD FUTURES closed   
below the upper band by 18.1%.
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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