WEEKLY MOVING AVERAGES:
The June gold futures contract closed at 1304. The market closing above the 9 MA (1292) 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 INDICATOR:
With the market closing above the The VC Weekly Price Momentum Indicator of 1286, 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 1280 – 1255 levels and go long on a weekly reversal stop. If long, use the 1255 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1316 – 1329 levels during the week.
WEEKLY MOVING AVERAGES:
The July Silver futures contract closed at 19.75. The market closing below the 9 day MA (20.37) 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 above The VC Weekly Price Momentum Indicator of 19.54, 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 19.16 – 18.56 levels and go long on a weekly reversal stop. If long, use the 18.56 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 20.14 – 20.52 levels during the week.
Russel 2000
WEEKLY MOVING AVERAGES:
The contract closed at 1.123. The market closing below the 9 day MA (1.159) 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 below The VC Weekly Price Momentum Indicator of 1.134 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 1.110 – 1.097 levels and go long on a weekly reversal stop. If long, use the 1.097 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.147 – 1.171 levels during the week.
WEEKLY MOVING AVERAGES:
The contract closed at 100.69. 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 below The VC Weekly Price Momentum Indicator of 101.74 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 99.64 – 98.59 levels and go long on a weekly reversal stop. If long, use the 98.59 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 102.78 – 104.88 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.