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7/20/2011 - SILVER FUTURES

|Includes:AGQ, iShares Silver Trust ETF (SLV), ZSL
Wednesday, July 20, 2011
7/20/2011 - SILVER FUTURES
 
THE VULCAN REPORT
Review of $1XAG/USD - SILVER Spot (XAG USD)
as of Tuesday, July 19, 2011


Today's Price Action


Change   -1.5400 (-3.80%) prices closed lower than they opened. with weak Bids going into the close. 


An engulfing bearish line occurred (where a black candle's real body completely contains the previous white candle's real body).  The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with $1XAG/USD - SILVER Spot).  It then signifies that the momentum may be shifting from the bulls to the bears.  


If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal.  The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     38.97
Swing Vix:     39.05


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 daysHowever, the Swing Vix just crossed below 39 from a topping formation.  This is a bearish 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-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, $1XAG/USD - SILVER Spot's price has been unchanged, and has ranged from a high of  40.88 to a low of  38.61.


     MOMENTUM


     MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below    36.21 is needed to re-establish the downward trend. However a close above    41.06 will establish a new upward trend.


        TREND STRENGTH - ,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -    33.57
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -    31.05
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -    36.72 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -    37.80 


INTRADAY PRICE PROJECTIONS
RESISTANCE    40.99
SUPPORT    38.50


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -    40.88
PulseWave BreakOut SUPPORT -    34.81


VOLATILITY
On 7/19/2011, $1XAG/USD - SILVER Spot closed   
below the upper band by 13.0%.
    


Risk Disclosure
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education onlyThe 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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