Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
WEEKLY SUMMARY
TREND MOMENTUM: 1291 Bullish
PRICE MOMENTUM: 1333 Bullish
PRICE INDICATOR
EXIT LONGS:
2 ) 1372
1) 1359
EXIT SHORTS:
- 1320
- 1294
WEEKLY MOVING AVERAGES
The August gold futures contract closed at 1345. The market closing above the 9 SMA 1291 is confirmation that the weekly trend momentum is bullish. A close below the 9 SMA 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 1333, 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 1320 – 1294, and go long on a weekly reversal stop. If long, use the 1294 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 1359 – 1372 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.41 Bullish
PRICE MOMENTUM: 19.14 Bullish
PRICE INDICATOR
EXIT LONGS:
2) 21.54
1) 20.69
EXIT SHORTS:
- 18.29
- 16.74
WEEKLY MOVING AVERAGES
The July silver futures contract closed at 19.85. The market closing above the 9 SMA 17.41, is confirmation that the weekly trend momentum is bullish. A close below the 9 SMA 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 19.13 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 18.29 – 16.73, and go long on a weekly reversal stop. If long, use the 16.73 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 20.69 21.54 during the week.