Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY MOVING AVERAGES
The February gold futures contract closed at 1190. The market closing below the 9 day MA (1192) is confirmation that the weekly trend momentum is bearish. A close above 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 1175, 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 1182 – 1174 levels and go long on a weekly reversal stop. If long, use the 1174 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1183 – 1176 levels during the week.
SILVER
WEEKLY MOVING AVERAGES
The March silver futures contract closed at 15.78. The market closing below the 9 day MA (16.16) 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 below the VC Weekly Price Momentum Indicator of 15.92, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
WEEKLY PRICE INDICATOR
Cover short on corrections at the 15.36 – 14.95 levels and go long on a weekly reversal stop. If long, use the 14.95 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 16.34 – 16.89 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. Trading Derivatives, Financial Instruments And Precious Metals Involves Significant Risk Of Loss And Is Not Suitable For Everyone. Past Performance Is Not Necessarily Indicative Of Future Results.