The VC Price Momentum Indicator
Gold and silver weekly futures swing trading instructions
March 17, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
GOLD
WEEKLY SUMMARY TREND MOMENTUM: 1223 Bullish
PRICE MOMENTUM: 1220 Bullish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1257
1) 1244
EXIT SHORTS:
- 1207
- 1183
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1231. The market closing above the 9 day SMA 1223 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 PRICE MOMENTUM
With the market closing above the VC Weekly Price Momentum Indicator of 1220, 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 1207 - 1183, and go long on a weekly reversal stop. If long, use the 1183 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 1244 - 1257 during the week.
SILVER
WEEKLY SUMMARY
TREND MOMENTUM: 17.57 Bearish
PRICE MOMENTUM: 17.27 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 18.02
1) 17.72
EXIT SHORTS:
- 16.97
- 16.52
WEEKLY TREND MOMENTUM
The silver futures contract closed at 17.41. The market closing below the 9 SMA 17.57, 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 17.27, 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 16.97 - 16.52, and go long on a weekly reversal stop. If long, use the 16.52 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 17.72 - 18.02 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. It is for educational purposes only.