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6/23/2011 - GOLD SPOT/FUTURES

|Includes: SPDR Gold Trust ETF (GLD)

 Thursday, June 23, 2011

6/23/2011 - GOLD SPOT/FUTURES
 
THE VULCAN REPORT
Review of GOLD FUTURES (US@GC.1)
as of Thursday, June 23, 2011


Today's Price Action


Change  -22.0000 (-1.42%) prices closed lower than they opened. with weak Bids going into the close.This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are "high," it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. 


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     13.72
Swing Vix:     13.26


The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    3 period(s) ago. 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 15 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, GOLD FUTURES's price has decreased 1.22%, and has ranged from a high of 1,549.60 to a low of 1,518.30.


     MOMENTUM


     MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.


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




TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 1,366.50
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 1,371.74
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. - 1,502.11 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. - 1,535.94 
Today's Sell off pushed prices on the close below the short term trendline resistance


INTRADAY PRICE PROJECTIONS
RESISTANCE 1,551.16
SUPPORT 1,516.73


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 1,549.60
PulseWave BreakOut SUPPORT - 1,511.40


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 1,999.20
Long term Trend Line resistance is currently at - 1,577.40
Long term Trend Line support is currently at - 1,366.50


MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 3,264.60
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 2,842.80
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 2,421.00


VOLATILITY
On 6/23/2011, GOLD FUTURES closed   
above the lower band by 16.5%.
 
 
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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