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Crude Oil Price Momentum: Bullish

By Patrick MontesDeOcaStock MarketsJul 09, 2017 12:18PM ET
www.investing.com/analysis/c-oil-price-momentum-:-bullih-200199893
Crude Oil Price Momentum: Bullish
By Patrick MontesDeOca   |  Jul 09, 2017 12:18PM ET
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The Weekly VC Price Momentum Indicator

ETFs, Stocks & Futures Swings Report

Trading Instructions July 7,201 7

Signals are automatically generated by integrating electronic
weekly
statistics with proprietary algorithms.



Crude Oil

WEEKLY SUMMARY
TREND MOMENTUM: 47.37 Bearish
PRICE MOMENTUM: 45.24 Bullish
PRICE INDICATOR
EXIT LONG:
S2) 48.93
S1) 47.61

EXIT SHORTS:
B1) 43.92
B2) 41.55

WEEKLY TREND MOMENTUM
The contract closed at 44.39 The market closing below the 9 SMA 47.06 is confirmation that the 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 45.29 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 43.06 - 41.73 levels and go long on a weekly reversal stop. If long, use the 41.73 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 46.62 - 48.85 levels during the week.


ES

WEEKLY SUMMARY
TREND MOMENTUM: 2417 Bullish
PRICE MOMENTUM: 2422 Bullish
PRICE INDICATOR
EXIT LONGS:
2) 2454
1) 2438

EXIT SHORTS:
1) 2406
2) 2390

WEEKLY TREND MOMENTUM
The contract closed at 2423. The market closing above the 9 SMA 2417 is confirmation that the trend momentum is bullish. A close below the 9 SMA would negate the weekly bullish short-term trend to neutral.

WEEKLY PRICE MOMENTUM
With the market closing above The VC Weekly Price Momentum Indicator of 2422 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 2390 - 2406 levels and go long on a weekly reversal stop. If long, use the 2406 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 2438 - 2454 levels during the week.


FFMGF
WEEKLY SUMMARY
TREND MOMENTUM: 0.51 Bearish
PRICE MOMENTUM: 0.48 Bearish
PRICE INDICATOR

EXIT LONGS:
S2) 0.56
S1) 0.52
EXIT SHORTS
B1) 0.44
B2) 0.40

WEEKLY TREND MOMENTUM
The contract closed at 0.47. The market closing below the 9 SMA 0.51 is confirmation that the 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 0.48 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 0.44 - 0.40 levels and go long on a weekly reversal stop. If long, use the 0.40 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 0.52 - 0.56 levels during the week.


McEwen Mining Inc. (TO:MUX)

WEEKLY SUMMARY
TREND MOMENTUM: 2.68 Bearish
PRICE MOMENTUM: 2.57 Bearish
PRICE INDICATOR
EXIT LONGS:
S2) 2.97
S1) 2.72
EXIT SHORTS
B1) 2.32
B2) 2.17

WEEKLY TREND MOMENTUM
The contract closed at 2.47 The market closing below the 9 SMA 2.68 is confirmation that the 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 2.57 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 2.32 - 2.17 levels and go long on a weekly reversal stop. If long, use the 2.17 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 2.32 - 2.17 levels during the week.


JNUG (NYSE:JNUG)

WEEKLY SUMMARY
TREND MOMENTUM: 17.94 Bearish
PRICE MOMENTUM: 15.96 Bearish
PRICE INDICATOR
EXIT LONGS:
2) 18.89
1) 17.10
EXIT SHORTS:

  • 14.18
  • 13.03

WEEKLY TREND MOMENTUM
The contract closed at 15.32 The market closing below the 9 SMA 17.94 is confirmation that the trend momentum is bearish. A close above the 9 SMA would negate the weekly bearish short-term trend signal to neutral.

WEEKLY PRICE MOMENTUM
With the market closing below The VC Weekly Price Momentum Indicator of 15.96 it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bullish signal to neutral.

WEEKLY PRICE INDICATOR
Cover short on corrections at the 14.77 - 13.03 levels and go long on a weekly reversal stop. If long, use the 13.03 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 17.10 - 18.89 levels during the week.


NUGT (NYSE:NUGT)


WEEKLY SUMMARY
TREND MOMENTUM: 32.56 Bearish
PRICE MOMENTUM: 27.15 Bearish
PRICE INDICATOR:
EXIT LONGS
2) 30.50
1) 28.49
EXIT SHORTS
1) 25.14
2) 23.80

WEEKLY TREND MOMENTUM
The contract closed at 26.48 The market closing below the 9 SMA 32.56 is confirmation that the 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 27.15, 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 23.80 - 25.14 levels and go long on a weekly reversal stop. If long, use the 25.14 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 28.49 - 30.50 levels during the week.


USLV (NASDAQ:USLV)

WEEKLY SUMMARY
TREND MOMENTUM: 12.33 Bearish
PRICE MOMENTUM: 9.97 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 11.90
1) 10.78
EXIT SHORTS
1) 8.83
2) 8.04

WEEKLY TREND MOMENTUM
The contract closed at 9.61. The market closing below the 9 SMA 12.33 is confirmation that the 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 9.97 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 8.83 - 8.04 levels and go long on a weekly reversal stop. If long, use the 8.04 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 10.76 - 11.90 levels during the week.


Taseko Mines Limited (NYSE:TGB)

WEEKLY SUMMARY
TREND MOMENTUM: 1.23 Bullish
PRICE MOMENTUM: 1.28 Bullish
PRICE INDICATOR:
EXIT LONGS:
1) 1.38
1) 1.33
EXIT SHORTS
1) 1.20
2) 1.13

WEEKLY MOVING AVERAGES
The contract closed at 1.28. The market closing above the 9 SMA 1.23 is confirmation that the trend momentum is bullish. A close below the 9 SMA 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 1.26, 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 1.20 - 1.13 levels and go long on a weekly reversal stop. If long, use the 1.13 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.33 - 1.38 levels during the week.


SPY (NYSE:SPY)

WEEKLY SUMMARY
TREND MOMENTUM: 241 Bullish
PRICE MOMENTUM: 242 Bullish
PRICE INDICATOR:
EXIT LONGS:
1) 245
1) 244
EXIT SHORTS
1) 241
2) 239

WEEKLY MOVING AVERAGES
The contract closed at 242. The market closing above the 9 SMA 241 is confirmation that the trend momentum is bullish. A close below the 9 SMA 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 242, 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 241 - 239 levels and go long on a weekly reversal stop. If long, use the 239 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 244. 245 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. This report is for educational purposes only.

Crude Oil Price Momentum: Bullish
 

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Crude Oil Price Momentum: Bullish

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