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Tuesday, August 9, 2011

8/10/2011 - GOLD


THE VULCAN REPORT
Review of $0$ XAU/USD - GOLD Spot (XAU USD)
as of Tuesday, August 09, 2011


Today's Price Action


Change   with weak Bids going into the close. 26.7999 (1.56%) prices closed higher than they opened. This is generally considered bullish, as prices closed significantly higher than they opened.  If the candle appears when prices are "low," it may be the first sign of a bottom.  If it occurs when prices are rebounding off of a support area , the long white candle adds credibility to the support.  Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.


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:     33.86
Swing Vix:     34.51


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  
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  6 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, $0$ XAU/USD - GOLD Spot's price has been unchanged, and has ranged from a high of 1,782.50 to a low of 1,717.70.


     MOMENTUM


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


        TREND STRENGTH - STRONG - Bullish Trend,,BULLISH MOMENTUM,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,496.35
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,425.31


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,785.74 place stoploss here 
SUPPORT 1,714.46 GO SHORT here 


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,622.17  
PulseWave BreakOut SUPPORT - 1,566.17  


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 2,354.80
Long term Trend Line resistance is currently at - 1,782.50
Long term Trend Line support is currently at - 1,496.35


MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 4,071.70
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 3,499.40
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 2,927.10


VOLATILITY
On 8/9/2011, $0$ XAU/USD - GOLD Spot closed   above the upper band by 18.2%.


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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