Gold's Weekly Trend Momentum Is Bearish, Silver Is Bullish

Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.

GOLD

WEEKLY MOVING AVERAGES

The February gold futures contract closed at 1294. The market closing below the 9 day MA (1218) is confirmation that the weekly trend momentum is bearish. A close above the 9 day MA would negate the weekly bearish short-term trend to neutral.

WEEKLY MOMENTUM INDICATOR

With the market closing above the VC Weekly Price Momentum Indicator of 1292, it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.

WEEKLY PRICE INDICATOR

Cover short on corrections at the 1274 – 1255 levels and go long on a weekly reversal stop. If long, use the 1255 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1311 – 1329

SILVER

WEEKLY MOVING AVERAGES

The March silver futures contract closed at 18.33. The market closing above the 9 day MA (16.59) is confirmation that the weekly trend momentum is bullish. A close below the 9 day MA would negate the weekly bullish short-term trend to neutral.

WEEKLY MOMENTUM INDICATOR

With the market closing above the VC Weekly Price Momentum Indicator of 18.15, it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.

WEEKLY PRICE INDICATOR

Cover short on corrections at the 17.81 – 17.28 levels and go long on a weekly reversal stop. If long, use the 17.28 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 18.68 – 19.02 levels during the week.

Disclaimer: 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.