Gold
WEEKLY MOVING AVERAGES
The June gold futures contract closed at 1295. The market closing below the 9 MA (1325) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below the The VC Weekly Price Momentum Indicator of 1303, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1276 – 1256 levels and go long on a weekly reversal stop. If long, use the 1256 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1323 – 1350 levels during the week.
Silver
WEEKLY MOVING AVERAGES
The July Silver futures contract closed at 19.67. The market closing below the 9 day MA (20.61) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM INDICATOR
With the market closing below The VC Weekly Price Momentum Indicator of 19.69, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 19.22 – 18.77 levels and go long on a weekly reversal stop. If long, use the 18.77 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.14 – 20.61 levels during the week.
Russel 2000
WEEKLY MOVING AVERAGES
The contract closed at 1.138. The market closing below the 9 day MA (1.164) is confirmation that the trend momentum is bearish. A close above the 9 MA would negate the weekly bearish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM PRICE INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 1.125 it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 1.108 – 1.078 levels and go long on a weekly reversal stop. If long, use the 1.078 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.154 – 1.171 levels during the week.
Crude Oil
WEEKLY MOVING AVERAGES
The contract closed at 104.59. The market closing above the 9 day MA (101.59) is confirmation that the trend momentum is bullish. A close below the 9 MA would negate the weekly bullish short-term trend to neutral.
VC CODE WEEKLY MOMENTUM PRICE INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 104.16 it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
VC CODE WEEKLY PRICE INDICATOR
Cover short on corrections at the 103.33 – 102.08 levels and go long on a weekly reversal stop. If long, use the 102.08 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 105.41 – 106.24 levels 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.
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.