Gold
Weekly Moving Averages
The contract closed at 127.62. The market closing above the 9 day MA (123.40) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 128.10, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 126.67 to 125.72 and reverse to go long on a weekly reversal stop. If long, use the 125.72 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 129.05 and 130.48 levels during the week.
GDX
Weekly Moving Averages
The contract closed at 25.88. The market closing above the 9 day MA (24.11) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 26.19, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 25.44 to 24.99 and reverse to go long on a weekly reversal stop. If long, use the 24.99 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 26.64 and 27.93 levels during the week.
SLV
Weekly Moving Averages
The contract closed at 20.35. The market closing above the 9 day MA (19.68) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 20.64, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 19.98 to 19.62 and reverse to go long on a weekly reversal stop. If long, use the 19.62 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.00 and 21.66 levels during the week.
AGQ
Weekly Moving Averages
The contract closed at 73.63. The market closing above the 9 day MA (69.33) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 75.84, it confirms that the price momentum is bearish. A close above the VC Weekly Indicator, it would negate the bearish trend to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 70.91 to 68.19 and reverse to go long on a weekly reversal stop. If long, use the 68.19 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 78.56 and 83.49 levels during the week.
SPXU
Weekly Moving Averages
The contract closed at 57.90. The market closing below the 9 day MA (59.82) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 58.56, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 57.24 to 56.57 and reverse to go long on a weekly reversal stop. If long, use the 56.57 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 59.23 and 60.55 levels during the week.
UCO
Weekly Moving Averages
The contract closed at 34.87. The market closing above the 9 day MA (31.67) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing above the VC Weekly Price Momentum Indicator of 34.76, it confirms that the price momentum is bullish. A close below the VC Weekly, would negate the bullish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 34.04 to 33.22 and reverse to go long on a weekly reversal stop. If long, use the 33.22 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 35.59 and 36.31 levels during the week.
ULE
Weekly Moving Averages
The contract closed at 25.90. The market closing above the 9 day MA (25.50) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
Weekly VC Code Momentum Indicator
With the market closing below the VC Weekly Price Momentum Indicator of 25.94, it confirms that the price momentum is bearish. A close above the VC Weekly, would negate the bearish signal to neutral.
Weekly VC Price Indicator
Cover short on corrections at the 25.86 to 25.81 and reverse to go long on a weekly reversal stop. If long, use the 25.81 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 25.98 and 26.07 levels during the week.
