WEEKLY MOVING AVERAGES
The December gold futures contract at 1311. The market closing above the 50 day MA (1299) is confirmation that the weekly trend momentum is bullish. A close below the 50 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 1306, 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 1288 – 1265 levels and go long on a weekly reversal stop. If long, use the 1265 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1310 – 1327 levels during the week.
WEEKLY MOVING AVERAGES
The December Silver futures contract closed at 19.98. The market closing below the 50 day MA (20.72) is confirmation that the weekly trend momentum is bearish. A close above the 50 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 20.12, 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 19.69 – 19.40 levels and go long on a weekly reversal stop. If long, use the 19.40 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.40 – 20.81 levels during the week.
WEEKLY MOVING AVERAGES
The contract closed at 1.131. The market closing below the 50 day MA (1.132) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
WEEKLY MOMENTUM PRICE INDICATOR
With the market closing above The VC Weekly Price Momentum Indicator of 1.124 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 1.115 – 1.099 levels and go long on a weekly reversal stop. If long, use the 1.099 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.139 – 1.148 levels during the week.
ProShares Ultra DJ-UBS Crude Oil (ARCA:UCO)
WEEKLY MOVING AVERAGES
The contract closed at 33.87. The market closing below the 50 day MA (34.24) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
WEEKLY MOMENTUM PRICE INDICATOR
With the market closing below The VC Weekly Price Momentum Indicator of 33.95 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 33.21 – 32.55 levels and go long on a weekly reversal stop. If long, use the 32.55 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 34.61 – 35.35 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.
Disclaimer: 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.