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01/27/2010 - silver spot silver futures

|Includes:AGQ, iShares Silver Trust ETF (SLV)
Thursday, January 27, 2011
01/27/2010 - silver spot silver futures
 
THE VULCAN REPORT
Review of $XAG/USD - SILVER Spot (XAG USD)
as of Wednesday, January 26, 2011


Today's Price Action


Change    0.6900 (2.57%) prices closed higher than they opened.  with strong Bids going into the close.


An engulfing bullish line occurred (where a white candle's real body completely contains the previous black candle's real body).  The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with $XAG/USD - SILVER Spot).  It then signifies that the momentum may be shifting from the bears to the bulls.


If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top.  The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -38.85
Swing Vix:    -39.03


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 However, the Swing Vix just crossed above -39 from a bottoming formation. This is a bullish sign.  
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  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, $XAG/USD - SILVER Spot's price has been unchanged, and has ranged from a high of 27.6400 to a low of 26.6500.


     MOMENTUM


     MARKET TREND - Currently the TREND is - Neutral within the Bullish KUMO Consolidation cloud (Possible Trend Reversal) with Downside Bearish Breakout risk. A close above  28.4300 is needed to re-establish the upward trend. However A close below  26.7550 will establish a new downward trend.


        TREND STRENGTH - ,
There is currently no trend strength reading at this time.


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -  23.0900
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -  22.4332
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. -  27.6783 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. -  27.9028 


INTRADAY PRICE PROJECTIONS
RESISTANCE  27.4172
SUPPORT  26.8728


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  29.4900
PulseWave BreakOut SUPPORT -  26.5400


VOLATILITY
On 1/26/2011, $XAG/USD - SILVER Spot closed   
above the lower band by 22.2%.
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.     


isk Disclosure

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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BULLS make money... BEARS make money.... PIGS get slaughtered!


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Stocks: SLV, AGQ