Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY MOVING AVERAGES
The December gold futures contract closed at 1220. The market closing below the 9 day MA (1268) 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 1221, 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 1205 – 1191 levels and go long on a weekly reversal stop. If long, use the 1191 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1236 – 1251 levels during the week.
SILVER
WEEKLY MOVING AVERAGES
The December silver futures contract closed at 17.65. The market closing below the 9 day MA (19.14) 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 17.63, 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 17.28 – 16.91 levels and go long on a weekly reversal stop. If long, use the 16.91 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 18.01 – 18.36 levels during the week.