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Futures Swings: Gold And Silver

By Patrick MontesDeOcaCommoditiesMay 31, 2015 02:23AM ET
www.investing.com/analysis/futures-swings,-gold---silver-report-253456
Futures Swings: Gold And Silver
By Patrick MontesDeOca   |  May 31, 2015 02:23AM ET
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GOLD

WEEKLY SUMMARY

TREND MOMENTUM: 1193 Bearish

PRICE MOMENTUM: 1193 Bearish

PRICE INDICATOR:

EXIT LONGS:

1) 1207

2) 1222

EXIT SHORTS:

  • 1178

  • 1164

WEEKLY MOVING AVERAGES

The June gold futures contract closed at 1191. The market closing below the 9 SMA 1198 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 MOMENTUM INDICATOR

With the market closing below the VC Weekly Price Momentum Indicator of 1193, it confirms that the price momentum is bearish. A close above the VC Weekly 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 1178 – 1164, and go long on a weekly reversal stop. If long, use the 1164 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 1207 1222 during the week.

SILVER

WEEKLY SUMMARY

TREND MOMENTUM: 16.58 Bullish

PRICE MOMENTUM: 16.81 Bearish

PRICE INDICATOR:

EXIT LONGS:

1) 17.08

2) 17.45

EXIT SHORTS:

  • 16.44

  • 16.17

WEEKLY MOVING AVERAGES

The July silver futures contract closed at 16.71. The market closing above the 9 SMA 16.58 is confirmation that the weekly 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 below the VC Weekly Price Momentum Indicator of 16.81, it confirms that the price momentum is bearish. A close above the VC Weekly 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 16.44 – 16.17, and go long on a weekly reversal stop. If long, use the 16.17 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 17.08 – 17.45 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.

Futures Swings: Gold And Silver
 
Futures Swings: Gold And Silver

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