Tuesday, February 2, 2016
THE VULCAN REPORT (WEEKLY) Review of /QM LIGHT SWEET CRUDE OIL (QM) as of Monday, January 25, 2016
THE VULCAN REPORT
Review of /QM LIGHT SWEET CRUDE OIL (QM)
as of Monday, January 25, 2016
Today's Price Action
Change 1.5000 (4.65%) prices closed higher than they opened. with strong Bids going into the close.
PulseScan Swing Vix
Swing Vix: -24.33
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
The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher 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 4 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, /QM LIGHT SWEET CRUDE OIL's price has been unchanged, and has ranged from a high of 34.8300 to a low of 29.2500.
MARKET TREND - Currently the TREND is VERY-BEARISH - Heavy Distribution.
TREND STRENGTH - STRONG - Bearish Trend,
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 66.5550
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 64.1811
The close is currently Below it's Intermediate Term TRENDLINE RETRACEMENT. - 47.0320
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 35.8446
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 51.1850
PulseWave BreakOut SUPPORT - 27.3415
Long term Trend Line resistance is currently at - 66.5550
Long term Trend Line support is currently at - 27.5800
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 50.3700
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = 128.3200
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = 206.2700
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = 284.2200
On 1/25/2016, /QM LIGHT SWEET CRUDE OIL closed
above the lower band by 18.1%.
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.
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