The VC Price Momentum Indicator
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GoldWEEKLY SUMMARY
TREND MOMENTUM: 1259 Bearish
PRICE MOMENTUM: 1170 Bearish
PRICE INDICATOR
EXIT LONGS:
2 ) 1202
1) 1182
EXIT SHORTS:
- 1150
- 1138
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1162. The market closing below the 9 SMA 1259 is confirmation that the weekly trend momentum is bearish. A close above the 9 SMA would negate the weekly bearish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing below the VC Weekly Price Momentum Indicator of 1170, it that the price momentum is bearish. A close above the VC Weekly, it would trigger weekly stops and negate the bearish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 1150 - 1138, and go long on a weekly reversal stop. If long, use the 1138 level as a Stop Close Only and Good Till Cancelled order. Look to take profits on longs as we reach the Sell 1 and 2 levels of 1182 - 1202 during the week.
WEEKLY SUMMARY
TREND MOMENTUM: 17.41 Bearish
PRICE MOMENTUM: 16.64 Bearish
PRICE INDICATOR
EXIT LONGS:
2) 17.69
1) 17.33
EXIT SHORTS:
- 16.58
- 16.19
WEEKLY TREND MOMENTUM
The silver futures contract closed at 16.97. The market closing below the 9 SMA 17.41, is confirmation that the weekly trend momentum is bearish. A close above the 9 SMA would negate the weekly bearish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 16.64 it confirms that the price momentum is bullish. A close below the VC Weekly, it would trigger weekly stops and negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 16.58 - 16.19, and go long on a weekly reversal stop. If long, use the 16.19 level as a Stop Close Only and Good Till Cancelled order. Look to take profits on longs as we reach the Sell 1 and 2 levels of 17.33 - 17.69 during the week.
The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts.