The Weekly VC Price Momentum Indicator Gold and Silver Futures Swings Report
Trading Instructions June 23, 2017
Signals are automatically generated by integrating electronic
weekly statistics with proprietary algorithms.
Gold
WEEKLY SUMMARY
TREND MOMENTUM: 1258 Bearish
PRICE MOMENTUM: 1253 Bullish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1271
1) 1263
EXIT SHORTS:
- 1245
- 1235
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1256. The market closing below the 9 day SMA 1258 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 PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 1253, is confirmation that the price momentum is bullish. A close below the VC Weekly, it would trigger weekly stops and negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 1245 - 1235, and go long on a weekly reversal stop. If long, use the 1235 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 1263 - 1271 during the week.
WEEKLY SUMMARY
TREND MOMENTUM: 16.90 Bearish
PRICE MOMENTUM: 16.57 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 17.02
1) 16.83
EXIT SHORTS:
- 16.39
- 16.14
WEEKLY TREND MOMENTUM
The silver futures contract closed at 16.65. The market closing below the 9 SMA 16.90 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 PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 16.57, it confirms that the price momentum is bullish. A close below the VC Weekly, it would trigger weekly stops and negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 16.39 - 16.14, and go long on a weekly reversal stop. If long, use the 16.14 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 16.83 - 17.02 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. It is for educational purposes only.