The VC Price Momentum Indicator
Gold and silver weekly futures swing trading instructions
March 10, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD WEEKLY SUMMARY
TREND MOMENTUM: 1220 Bearish
PRICE MOMENTUM: 1211 Bearish
PRICE INDICATOR: EXIT LONGS:
2 ) 1253
1) 1227
EXIT SHORTS:
- 1185
- 1169
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1201. The market closing below the 9 SMA 1220 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 1211, is confirmation 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 1185 - 1169, and go long on a weekly reversal stop. If long, use the 1169 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 1227 - 1253 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.51 Bearish
PRICE MOMENTUM: 17.26 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 18.41
1) 17.66
EXIT SHORTS:
- 16.51
- 16.11
WEEKLY TREND MOMENTUM
The silver futures contract closed at 16.92. The market closing below the 9 SMA 17.51, 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 17.26, it confirms 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 16.51 - 16.11, and go long on a weekly reversal stop. If long, use the 16.11 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 17.66 - 18.41 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. It is for educational purposes only.