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6/20/2011 - CRUDE OIL FUTURES

 Monday, June 20, 2011

6/20/2011 - CRUDE OIL FUTURES
 
THE VULCAN REPORT
Review of CRUDE OIL FUTURES (US@CL.1)
as of Monday, June 20, 2011


Today's Price Action


Change   -0.3300 (-0.35%) prices closed lower than they opened.  with strong Bids going into the close.


A long lower shadow occurred.  This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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.
Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:    -34.54
Swing Vix:    -32.90


The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of    6 period(s) ago. The Swing Vix is below -29.  This is where it usually forms Support.  The Swing Vix usually forms Support before the underlying security.  
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 33 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s).  This is bearish.
      
  *Since the last Swing Vix signal, CRUDE OIL FUTURES's price has decreased 6.66%, and has ranged from a high of 102.15 to a low of  91.14.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BEARISH - Heavy Distribution.


        TREND STRENGTH - WEAK - RANGE BOUND  (Prices have ceased trending and have become consolidated at this time) The market has put in a short term bottom. This means that the bears are liquidating short positions thus taking some profit off the table.,


TRENDLINE RETRACEMENT
The close is currently Below it's PulseWave Cycle TRENDLINE RETRACEMENT. -    92.17
Today's Sell off pushed prices on the close below the long term trendline support - This is Bearish as the market is now under heavy Distribution.


The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -    91.47
Today's Sell off pushed prices on the close below the long term trendline support - This is Bearish as the market is now under heavy Distribution.


The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. -   100.41 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. -    96.47 


INTRADAY PRICE PROJECTIONS
RESISTANCE    93.23
SUPPORT    91.04


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   102.44
PulseWave BreakOut SUPPORT -    97.74


Long term Trend Line resistance is currently at -    92.17
Long term Trend Line support is currently at -    69.51
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =    24.19


VOLATILITY
On 6/20/2011, CRUDE OIL FUTURES closed below the lower band by 4.9%.  


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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