THE VULCAN REPORT
Review of /QM LIGHT SWEET CRUDE OIL (QM)
as of Monday, June 13, 2016
Today's Price Action
Change -0.0300 (-0.06%) prices closed lower than they opened. with strong Bids going into the close.
PulseScan Swing Vix
Swing Vix: 27.14
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
The Trend Channel is DOWN! (i.e. "Negative Swing Vix") This means that negative momentum is entering the market. Expect sideways to lower 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-Bought Sell 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, /QM LIGHT SWEET CRUDE OIL's price has been unchanged, and has ranged from a high of 49.2800 to a low of 45.9000.
MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 44.7475 is needed to re-establish the downward trend. However a close above 48.5550 will establish a new upward trend.
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. - 69.1450
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 43.9050
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 40.1318
The close is currently Above it's Short Term TRENDLINE RETRACEMENT. - 45.9383
Today's Sell off pushed prices on the close below the short term trendline resistance
INTRADAY PRICE PROJECTIONS
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 51.8275
PulseWave BreakOut SUPPORT - 35.0210
On 6/13/2016, /QM LIGHT SWEET CRUDE OIL closed
below the upper band by 20.0%.
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.
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
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