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Wednesday, August 17, 2016

Review of /(YI) SILVER FUTURES (YI) as of Monday, August 15, 2016

THE VULCAN REPORT
Review of /(YI) SILVER FUTURES (YI)
as of Monday, August 15, 2016

Today's Price Action
Change   -0.0600 (-0.30%) with weak Bids going into the close. prices closed higher than they opened.

    CHART PATTERNS
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white "UP" candles and 3 black "DOWN" candles  for a net of 4 white (UP) candles.
During the past 50 bars, there have been 30 white "UP"  candles and 20 black "DOWN" candles  for a net of 10 white (UP) candles.

An inverted hammer occurred.  If this occurs during a downtrend it implies a reversal.  Look for a confirmation of the reversal on the bar.

A long upper shadow occurred.  This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
An on-neck line occurred.  This is a bearish pattern where prices should move lower when the white candlestick's (i.e., the most recent) low is penetrated.
A shooting star occurred (a shooting star has a small real body near the bottom of the candle and a long upper shadow).  During an uptrend(which appears to be the case with /(YI) SILVER FUTURES) the long upper shadow indicates that the bears are gaining control and a top may occur.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.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:     19.32
Swing Vix:     20.90

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    2 period(s) ago.

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-Sold Buy 34 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, /(YI) SILVER FUTURES's price has decreased 3.43%, and has ranged from a high of 20.8000 to a low of 19.3400.

 MARKET TREND - Currently the TREND is -The DownTrend is still entact with prices holding below trendline resistance at-   28.8250.

INTRADAY PRICE PROJECTIONS
RESISTANCE  20.6210 
SUPPORT  19.4815    

WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  20.6210 
PulseWave BreakOut SUPPORT -  19.4815 

VOLATILITY
On 8/8/2016, /(YI) SILVER FUTURES closed  
below the upper band by 23.5%.

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. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!

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